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Q. What is Unbilled training fees?
A company may possibly perform services for customers in one accounting period while it bills for the services in a different accounting period. Micro Train Company carries out USD 1000 of training services on account for a client at the end of December. Ever since it takes time to do the paper work Micro Train will bill the client for the services in January. The essential adjusting journal entry at 2010 December 31 is:
Subsequent to posting the adjusting entry the T-accounts appear as follows
The service revenue emerge in the income statement the asset accounts receivable appears in the balance sheet.
Determining the Discount Rate XYZ (APP) Ltd is a biotechnology company that recently listed on the Australian Securities Exchange (ASX). As such, XYZ Ltd has very limited stoc
Q. Relevance information to financial reporting? To have relevance information should be pertinent to or affect a decision. The information should make a difference to someone
An invoice for product X totals $1,200 and is dated July 6, 2000 with terms 2/10-60X. If the invoice is paid on September 3, 2000, what is the net amount of payment? A. $912
Accounting concepts are used in relation to accounting procedures for a specific business enterprise. Some of these are: Going concern Verifiable
I purchased equipment for 3,000 but only paid 1,000 of it and put rest of it on an account. how would I put that into a asset=liabilities+ owns equity equation?
Comprehensive Problem in Trial Balance Cash $ 26,470 A/R 14,222 Office Supplies 4,298 Prepaid Insurance 23,137 Equipment 131,495 A/D - Equipment $19,096 Accounts P
Q. Steps used in retail inventory method? The retail inventory method approximation the cost of the ending inventory by applying a cost/retail price ratio to ending inventory s
Q. Explain about Depreciation? Depreciation Just as prepaid rent and prepaid insurance indicate a gradual using up of a previously recorded asset thus does depreciation. But th
t. liabilities ratio is the same as debt equity ratio?
started in business with cash 16,000
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