accounting basics, Accounting Basics

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What do you mean by" bank reconciliation"?, A Bank reconciliation manipulat...

A Bank reconciliation manipulates cross verifying the entries in the cash book(bank balance)with that of pass book. Mostly the reasons for disagreement of cash book with that of

Evaluation of data - scope of accounting, Data evaluation is observed as th...

Data evaluation is observed as the most significant activity in accounting recently. Evaluation of data comprises controlling the activities of business along with the assist of bu

What is unbilled training fees, Q. What is Unbilled training fees? A co...

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 peri

What is difference between super stockist and distributor, Super stockist i...

Super stockist is one who supply product to n no. of distributor in area. Distributor is one who supply to dealers in the area

Prepare a trial balance, Prepare a trial balance All account names w...

Prepare a trial balance All account names would be listed in left-hand column. Place the account balance in appropriate debit or credit column for those accounts which have

Common rule of thumb in business, 80 - 20 rule - A common rule of thumb in ...

80 - 20 rule - A common rule of thumb in business which says that 20% of the items produce80% of the action -- 20% of product line produces 80% of the sales, 20 percent of thecusto

Liquidity ratios (short term solvency ratios), Liquidity Ratios (Short Term...

Liquidity Ratios (Short Term Solvency Ratios):   These Ratios calculate the capability of the firm to meet its current obligations. They point out whether the firm has enough li

A store receives $400 cash after offering a chain, A store receives $400 ca...

A store receives $400 cash after offering a chain discount of 10/10/5 on a good. What was the list price? A. $492.20 B. $519.82 C. $533.33 D. $612.00

Creditors, Creditors: this may be short or long-term lenders. Short-term c...

Creditors: this may be short or long-term lenders. Short-term creditors comprise suppliers of materials, services or goods. They are generally termed as trade creditors. Long-term

On december 31, On December 31, 2013, a company issues bonds with a par val...

On December 31, 2013, a company issues bonds with a par value of $600,000. The bonds mature in 10 years, and pay 6% annual interest, payable each June 30 and December 31. The bon

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