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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
Q. Calculate the gross margin percentage? Calculate the gross margin percentage by using the following formula Grossmargin percentage = Grossmargin/Net sales To show th
The 31st December 2009 trial balance of Anika Co. reported the following information. Dr. Cr. Allowance for Bad Debts........................... $2,300 During the year 2010 t
Q. What is T-account? To exemplify recording the increases and decreases in an account texts use the T-account which appear like a capital letter T. The name of the account suc
Q. What is Accounts receivable? Accounts receivable as well called trade accounts receivable are amounts owed to a business by customers. An account receivable occurs when a co
Difference between Debit and Credit Debit- used to record employer's FICA taxes, state unemployment taxes and federal unemployment taxes incurred during an accounting period
Q. Example of retail inventory method? In Exhibit we display the retail inventory method. In the exhibit the costs (USD 22000) as well as retail (USD 40000) amounts for beginni
Q. Explain journal entry? A journal is a sequential arranged in order of time record of business transactions. A journal entry is the stacking of a business transaction in the
List of things to include in a trial balance before adjustments
O B JECTIVES OF FINANCIAL STATEMENTS The fundamental purpose of financial statements according to AICPA is 'to offer qualitative financial information concerning to the busi
what is an accounting cycle
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