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Adjustments for financial reporting
- Explain the basic characteristics of the cash basis and the accrual basis of accounting.
- Recognize the reasons why adjusting entries must be made.
- Recognize the classes and types of adjusting entries.
- Organize adjusting entries.
- Determine the consequence of failing to prepare adjusting entries.
- Analyze and utilize the financial results and trend percentages.
Q. Accounting systems from manual to computerized? The manual accounting system with merely one general journal and one general ledger has been in use for hundreds of years and
Q. Show Debit and Credit column? - Debit column. In the debit column the sum of the debit is on the same line as the title of the account debited. - Credit column. In the cr
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Suppose a firm owns oil well assets. It is deciding how much oil to extract from its oil wells this year and next year. Production of oil costs $10 per barrel this year; next year,
Money payable by customers (individuals or corporations) to the other entity in exchange for goods or services that have been given or used, but not yet paid for. Receivables typic
what is the contributed capital and how do you figure it out?
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A client comes to you for investment advice on his $500,000 winnings from the lottery. He has been offered the following options by three different financial institutions and reque
is exploration cost for mining companies regarded as assets or expense?
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