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Acme Inc. has total liabilities of $120,000, total sales of $80,000, net income of $12,000, current assets of $90,000 and total assets of $150,000. What is the debt to equity rat
how do we credit debit cash received from owner
Q. What do you mean by Salaries? The recording of the payment of employee salaries typically involves a debit to an expense account and a credit to Cash. But for a company pays
Q. Describe the methods of recording? Two general deductions from gross sales are (a) sales discounts and (b) sales returns and allowances. Sellers trace these deductions in co
How To figure the discount using calculator 1. Be sure that decimal selector is on 2 decimal places 2. Key in amount of the sale 3. Multiply by percent (use the percent key)
Q. What is Chart of accounts explain? The chart of accounts is a absolute listing of the titles and numbers of all the accounts in the ledger. The chart of accounts is able to
i want to work for online assignments in basic accountancy
Q. Show Advantages and disadvantages of LIFO? The advantages of the LIFO method are based on the fact that prices have risen almost constantly for decades. LIFO supporters clai
Instructions: 1. Using the journal entry sheet provided, record the transactions for January. January is the first full month of operations. 2. After journalizing the transactio
Q. What do you mean by unearned revenue? A liability/revenue adjustment concerning unearned revenues covers situations in which a customer has transferred assets typically cash
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