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You should have recorded in your cash books all amounts you've really received and payments you've really made. Though the cash books may be incomplete as your bank may have put extra transactions by your account such as:
? bank fees or interest charges ? direct debits (payments) and direct credits (receipts). Doing a regular bank reconciliation will permits you to: ? take into account any extra transactions your bank puts by your account and ? check and record any errors or omissions.
Revenues emerge in the Income Statement credit column of the work sheet. The two revenue accounts in the Income Statement are credit column for Micro Train Company are service reve
norman co borrows $15,000 with a 8%interest 38,000 account receivable paid $26,000 salary
define accounting.Briefly explain the accounting concepts which guide the accountant at the recording stage.
#quesDance fans switch away from dance music to R&B music AND the price of MP3 players decreases. tion..
Dogwood florist opened a business January 1st 2010. During 2010, they had the following transactions and economic events. For each of the transactions and economic events prepare
Q. What do you eman by Purchases account? In periodic inventory procedure a merchandising company uses the Purchases account to record the cost of merchandise bought for resale
what are the limitation
General rationale financial statements provide much of the information needed by external users of financial accounting. These financial statements are official reports providing i
The Dividends account increases (debited) as well as an asset cash decreases (credited) by USD 3000. Transaction 15 brings to a close the analysis of the Micro Train Company transa
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