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Q. What is Sales Discounts account?
The Sales Discounts account is the contra revenue account to the Sales account. In the income statement the seller deducts this contra revenue account from gross sales. Sellers utilize the Sales Discounts account relatively than directly reducing the Sales account so management is able to examine the sales discounts figure to evaluate the company's sales discount policy. Note that the Sales Discounts account isn't an expense incurred in generating revenue. Relatively the purpose of the account is to reduce recorded revenue to the amount actually realized from the sale.
Q. Explain about Depreciation expense? Depreciation expense is the sum of asset cost assigned as an expense to a particular period. The method of recording depreciation expense
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
Q. Show Recording changes in dividends? Recording changes in dividends ever since dividends decrease retained earnings increases appear on the left side of the Dividends accoun
Calculate, CPA, is compiling a cash flow statement for his client, Happy Hal Printing. Over the course of the year Happy Hal acquired new equipment by putting down half of the purc
twhat is debit?
The ratio of __________ to __________ is an example of a __________ ratio. A. quick assets; current liabilities; leverage B. cost of goods sold; total assets; asset utilization
Rondo plc, a sports apparel manufacturer with a cost of capital of 13.75%, is looking to expand its activity and is considering two possible countries to open a sales subsidiary. R
Q. Define the Opportunity cost? Opportunity cost -- a useful notion in evaluating alternate opportunities. If you choosealternative A, you can't choose B, C, or D. What is the
Explain any two concepts of accounting with examples
Q. What is transposition or slide error explain? When the trial balance doesn't balance try re-totalling the two columns. If this step doesn't locate the error divide the diffe
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