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Journal voucher is the voucher in which all the adjustment related entries and non cash non bank transactions are come ijournal eg-dep, some of them book the bills in journal and
whereas they make a payment they record in payment eg-contractor bill Contra appears two times in two sides of a account an account will be care for as contra when
1, Cash deposited in bank
2, cash with drawn from bank for office use
3, cheques deposited in bank
4, transfers from one account to another account
on 10/15 the academy agreed to teach a four month class (beginning immediately) to an individual for $2,200 tuition per month payable at the end of the class. the class started on
Jane and Walt form Orange Corporation. Jane transfers equipment worth $475,000 (basis of $100,000) and cash of $25,000 to Orange Corporation for 50% of its stock. Walt transfers
GAAP that is Generally Accepted Accounting Principles encompass the conventions, rules and processes necessary to explain accepted accounting practice at an exact time........gener
trial balance as at may 31 19*6 dr cr sales 400000 purchases 350000 sales return 5000 purchases return
Earned service revenue and received cash As its first transaction in July Metro performed deliverance services for customers and received USD 4800 cash. This transaction improv
Q. What is accounting system? Accrual basis, system, or method -- an accounting system which records revenues andexpenses at the time when transaction takes place,not at the ti
A baker makes 500 cream-filled eclairs at a cost of $0.72 each. He estimates that 10% of the eclairs will be sold the following day at a reduced price of $0.80 each. Find the mar
Q. Gain and loss recognition principle? The gain and loss recognition principle states that we record gains merely when realized but losses when they first become evident. Ther
What is the implication of applying accounting concepts wrongly
Terry Dorsey started Dorsey Hardware a tiny hardware store two years ago and has struggled to make it successful. The first year of operations effected in a substantial loss in the
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