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What is the change fund
Business that have many cash transactions generally establish this fund, which is an amount of money which is placed in the cash register drawer and is used to make change for customers who pay in cash.
a simple discount note for $6,600 at a ordinary bank discount rate of 8.61% for 60 days. What is the effective interest rate? Round to the nearest tenth of a percent
A business may perhaps engage in thousands of transactions during a year. An accountant summarizes and classifies the data in these transactions to create useful information.
Fixed asset are assets which provides the business future benefit Fixed assets are those which are tangible in nature and is not meant for sale in the near future and from whi
Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
Q. Explain about realization principle? Realization of revenue Under the realization principle the accountant doesn't recognize (record) revenue until the seller obtains the ri
S olvency Ratios (Long Term): These Ratios measure the long term financial provision of the firm. Creditors and Bankers are mainly interested in liquidity. But shareholders, and
INCOME SUMMARY ACCOUNT This is a temporary account which used to summarize the balances of temporary revenue and expense accounts. This is also known as a clearing account. The
Why it is important for independent auditor to be a member of a professional body?
2013, May 1st: 1 started in bnusiness with capital in cash of 1,800 and 4,200 in the bank. 2nd: Bought goods on credit from: j.Ward 600, P.Green 515
Accounting Accounting has evolved and emerged within response to the social & economic requirement of the society. The accounting procedure has its own syntax. The primary sys
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