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What are the components or materials used by Accounts receivable departments?
Ans) Accounts Receivable department is very vital department of the company. The responsibilities of the department is approval of credit limit to the customer study the past history of customer credit transfer invoices to the customer updation of the customer credit data factoring contacts with the factoring agents follow up of customers motivating the customers to give the dues intime and communicating the information to the management. Credit sales data estimation of credit sales for the future period recommened for for funds to finance department whenever they needed follow up of customers receivables management.
1. The closing stock of Prince Corporation has been reduced by $8,000 from its opening amount of $22,000. 2. No dividend has been paid or proposed by the company. 3. The only cap
Classified income statement It is more involved for a merchandising business to conclude net loss or net income. Income statement is categorized into sections: 1. Revenue
Q. Modifying conventions on Materiality? The Materiality is a modifying convention that permits accountants to deal with immaterial (unimportant) items in an expedient however
Problem 1: i) Assess the importance of accounting in the Public Sector. ii) How far has the Governmental Accounting Standards Board (GASB) changed financial reporting, ass
At the reception it is decrypted and actual data is obtained. Explain the different methods of encryption technique
what is the exact meaning of journal that we doing entries??
The Sneed Corporation issues 10,000 shares of $50 par value preferred stock for cash at $75 per share. The entry to record the transaction will consist of a debit to Cash for $75
What are examples of deferred revenue expenditure? Ans) It is an expenditure the advantage of which will be realized over a period and not during the present period. Ex-Heavy Ad
Business transactions and the accounting equation A transaction is any activity which changes the value of a firm's assets, liabilities or owner's equity. Every transaction
What is Federal unemployment tax Federal unemployment tax (FUTA) requires the payment of taxes to provide benefits for workers during periods of temporary unemployment. This
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