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the meaning of dual concept
Determine the Purchasing Procedures Alarge company would use a "purchasing agent" who heads purchasing department. Small companies would use manager/owner, etc. Seller recei
Q. What is Cyclic reporting? Cyclic reporting and the matching principle necessitate the preparation of adjusting entries. Adjusting entries are journal entries prepared at the
Workers compensation insurance Workers compensation insurance provides protection for employees who suffer a job-related illness or injury. Entire cost is generally paid by t
Ryan's Express has total credit sales for the year of $178,000 and estimates that 3% of its credit sales will be uncollectible. Record the end-of-period adjusting entry on Decemb
Determine the term - Working capital and current ratio Determining these ratios would help a business determine if will have enough capital to operate and can meet their debts.
ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account. elaborate on the statement and explain why journal is neces
Q. Departures from cost basis of inventory measurement? In general companies must use historical cost to value inventories and cost of goods sold. But some circumstances justif
Q. What do you mean by Contingent liabilities? Contingent liabilities -- liabilities which are not recorded on a company's financial reports though whichmight become due. If a
Q. Describe Retail inventory method? Retail stores often use the retail inventory method to estimate ending inventory at times other than year-end. Taking a physical inventory
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