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Q. What is Perpetual inventory records?
Perpetual inventory records Even though companies could apply perpetual inventory procedure by hand tracking units and dollars in and out of inventory is much easier using a computer. Both manual as well as computer processing maintain a record for each item in inventory. Observe Exhibit 48 an inventory record for Entertainment World a firm that sells several different brands of television sets. This inventory record illustrates the information on one particular brand and model of television set carried in inventory. Other information on the record comprises (a) the maximum and minimum number of units the company wishes to stock at any time (b) when and how many units were acquired and at what cost and (c) when and how many units were sold and what cost was assigned to cost of goods sold. The numbers of units on hand as well as their cost are readily available also.
Q. Example of sales cycle of company? For several retailers a large percentage of their annual sales occur during the period from Thanksgiving to Christmas. They efforts to sto
Advantages of setting Accounting Standards: 1. Setting of Accounting Standards will decrease the variations in the preparation of financial statements significantly. 2. Sett
what is the BRS
Human Resource Accounting: Way back in the year 1964 the first attempt to comprise figures on human capital in the balance sheet was made through Hermansson that later came to
If Alisha Maintenance manufacturing has: total maintenance cost of $2,785,000 total fixed maintenance cost of $310,000 total variable maintenance cost of $2,475,000 total m
Q. Explain Statement of retained earnings? The statement of retained earnings demonstrates the change in retained earnings between the beginning and end of a period e.g. a mont
Some companies announce pro forma earnings and then disclose real earnings measured under US Generally Accepted Accounting Principles (GAAP) in their quarterly financial reports.
Compute each of the following amounts Company reported current assets of $80,000, non-current assets of $350,000, current liabilites of $32,000 and long term liabilities of $120,00
Under both GAAP and tax depreciation, an asset cannot be depreciation until it has been
Q. What is invoice? An invoice is a document prepared by the seller of merchandise as well as sent to the buyer. The invoice contains the details of a sale such like the number
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