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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.
Q. Explain about perpetual inventory procedure? When discussing inventory we require clarifying whether we are referring to the physical goods on hand or the Merchandise Invent
Q. Uses of journal in accounting? Organizing journal entries in a computerized system is different than in a manual system. The computer usually asks for the number of the acco
A firm's __________ account is categorized as a current asset. A. equipment B. accounts payable C. bonds payable D. merchandise inventory
Q. Show the examples of long-term assets? Property, plant, and equipment are assets with helpful lives of more than one year a company acquires them for use in the business r
Target Company issues bonds with a par value of $900,000 on their stated issue date. The bonds mature in 10 years and pay 10% annual interest in semiannual payments. On the issue
Q. What is Managerial accounting information? A Managerial accounting information is for internal use and provides special information for the managers of a company. The inform
Define the term- FICA TAX This is a matching tax paid equally by employee and employer. Two parts-OASDI and HIP. Current rate for OASDI is 6.2% on the first $102,000 earned
briefly explain the accounting concepts which guide the accountant at the recording stage
#question.prepare the required adjusting entry for September 30, 2009
Suppose you want to have $5,000 saved at the end of five years. The bank will pay you 2% interest on your money. How much would you have to deposit today to have the $5,000 you w
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