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Q. What is Working capital?
Working capital -- current assets minus current liabilities. In most businesses majorcomponents of working capital are cash, accounts receivable and inventory minus accountspayable. As a business grows it would have larger accounts receivable as well as more inventory. Thereforethe need for working capital will increase.
State the steps of Merchandise inventory 1) TRANSFER THE BEGINNING INVENTORY FIGURE Debit INCOME SUMMARY for beginning inventory amount. Credit MERCHANDISE INVENTORY fo
Distributions to owners are reducing in equity of a particular business enterprise resulting from transferring rendering services, assets or incurring liabilities by the enterprise
Assume we are selling a device for 6000 and the company need to replace that device with a new device which is a bit more than the prior price say 7000.Then,how we can account this
Q. Describe about Cash role in balance sheet? Cash includes deposits in banks obtainable for current operations at the balance sheet date plus cash on hand consisting of un-dep
Explain in brief about the purchases account keeps a record of cost of merchandise purchased for resale during an accounting period. Assets are recorded as assets-not pu
what will be the journal entry for this: A debit memo from the bank was received for bank charges P200.00
Q. Illustrate a simple accounting system? James Stevens was captivating an accounting course at State University. as well he was helping companies find accounting systems that
even after preparing BRS why does balance as per cash book and balance as per pass book do not tally?
what is accrued revenue
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.”
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