accounts, Accounting Basics

Assignment Help:
“Ledger is said to be the principal book entry and the transactions can even be directly
entered into the ledger account.” Elaborate and explain why journal is necessary.

Related Discussions:- accounts

Explain in brief about the purchases account, Explain in brief about the pu...

Explain in brief about the purchases account  keeps a record of cost of merchandise purchased for resale during an accounting period. Assets are recorded as assets-not pu

A light truck is purchased on january 1 at a cost of $27, A light truck is ...

A light truck is purchased on January 1 at a cost of $27,000. It is expected to serve for eight years and have a salvage value of $3,000. Calculate the depreciation expense for t

STATEMENT OF CASH FLOW, #2, The comparative balance sheets and income state...

#2, The comparative balance sheets and income statements of Worsley Ltd are shown below. Worsley Ltd. Statement of Financial Position as at December 31 Current Assets 20x3

What is long-term liabilities, Q. What is Long-term liabilities? Long-t...

Q. What is Long-term liabilities? Long-term liabilities are debts such as a bonds payable and mortgage payable that aren't due for more than one year. Companies must show matur

Explain financial accounting information, Q. Explain Financial accounting i...

Q. Explain Financial accounting information? A Financial accounting information is precedent in nature that reporting on what has happened in the past. To facilitate comparison

Can you explain about liabilities, Q. Can you explain about Liabilities? ...

Q. Can you explain about Liabilities? Liabilities -- amounts owed by a company to others. Current liabilities are those amounts duewithin one year or less and generally include

Accounting standards, The fundamental concepts, discussed in the previous p...

The fundamental concepts, discussed in the previous paragraphs, are the core components in the theory of accounting. Such concepts as postulates or conventions, although, permit a

Cash selling and administrative expenses, Stewart Company sold 180 units @ ...

Stewart Company sold 180 units @ $320 each on October 31, 2012. Cash selling and administrative expenses were $15,000. The following information is also available:   The

What do you mean by cross-indexing, Q. What do you mean by Cross-indexing? ...

Q. What do you mean by Cross-indexing? Usually, accountants should check and trace the origin of their transactions so they provide cross indexing. Cross-indexing is the insert

Concepts of accounting, the consequences of non-compliance of each of the a...

the consequences of non-compliance of each of the accounting concepts.

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd