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Q. What is sales allowance?
A sales allowance is a inference from the original invoiced sales price granted when the customer keeps the merchandise but is dissatisfied for any of a number of reasons including damage, inferior quality or deterioration in transit. When a seller agrees to the sales return or else sales allowance the seller sends the buyer a credit memorandum indicating a reduction (crediting) of the buyer's account receivable. The credit memorandum is a document that provides space for the name and address of the concerned parties followed by a space for the reason for the credit and the amount to be credited. A credit memorandum becomes the foundation for recording a sales return or a sales allowance.
Desrocher Ltd. issued an instalment note on January 1, 2014 (with a required yield of 9%), in exchange for land that it purchased from Safayeni Ltd. Safayeni's real estate agent
COMMON ADJUSTMENTS AFFECTING THE PREPARATION OF BALANCE SHEET ARE: 1. Closing stock : Closing stock come into view on the credit side of trading account and assets side of
why would a bank be interested in the investment ratios of its customer firms..
Brown sole trader Brown has been in business for some years and has kept her drawings slightly below the level of profits each year. You are her accountant, and she has passed
Q. General principles of accounting? Organizations that have contributed towards the development of the principles are the 1)American Institute of Certified Public Accountants
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Why it is important for independent auditor to be a member of a professional body?
Q. Advantages of Weighted-average? Weighted-average: Advantages because of the averaging process the effects of year-end buying or not buying is lessened. Drawback Manipulation
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