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Q. What is Posting reference column?
This column demonstrates the account number of the debited or credited account. For example in Exhibit 8 the number 100 in the first entry means that the Cash account number are 100. No number become visible in this column until the information has been posted to the appropriate ledger account. We confer posting later in the sections.
accounts show the amount of money owed to the firm by customers. A. Supply B. Prepaid C. Receivables D. Payables
Q. Classes and types of adjusting entries? Adjusting entries plunge into two broad classes deferred meaning to postpone or delay items and accrued meaning to grow or accumulate
GILCO rents DVDs and DVD players (players) on a short term basis to airline passengers through GILCO locations at every large commercial airport throughout the world. A passenger
The company borrowed 30 000on September 1, 2011. The principal is due to be repaid in 10 years. Interest is payable twice a year on each August 31 and February 28 at an annual rate
Q. Consistency in accounting principle? Consistency necessitates that a company use the same accounting principles and reporting practices through time. Consistency makes possi
Reliable information is essential before decision makers can make a sound decision involving the allocation of scarce resources. Accounting information is precious because decision
Q. Explain about Conservatism? Conservatism The Conservatism means being prudent or cautious and making sure that assets and net income are not overstated. Such overstatements
differenciate between a cash book and a ledger
What is journal entry for Input CST which are paid at the time of purchases of goods from other state.
Need to get my Balance Sheet solved
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