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Q. Advantage of a pre-inventory sale?
Have you still taken advantage of a pre-inventory sale at your favourite retail store Many stores offer bargain prices to decrease the merchandise on hand and to minimize the time and expense of taking the inventory. A smaller inventory as well enhances the probability of taking an accurate inventory since the store has less merchandise to count. From section 6 you know that companies use inventory amounts to determine the cost of goods sold this main expense affects a merchandising company's net income. In this section you learn how important inventories are in preparing a correct statement of retained earnings, income statement and balance sheet.
Cartwright inc has $1,000,000 of 10% bonds outstanding on December 31, 20x8. On January 1, 20x9 adams corp and 80% owned subsidiary of Cartright, inc purchases a $250,000 part of c
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
he chairperson of the accounting department has three summer courses available: Accounting 201, Accounting 202, and Accounting 305. Twelve faculty members are available for assign
on 1 april,2007,X Ltd. makes an issu of 10,00,000 equity shares of rs.10 each payable as follows: on application-rs.3;allotment-rs.5;on first call rs.2(3 month after allotment). ap
Q. Explain about Purchase discounts? Purchase discounts frequently companies purchase merchandise under credit terms that permit them to deduct a stated cash discount if they p
Q. Calculate the gross margin percentage? Calculate the gross margin percentage by using the following formula Grossmargin percentage = Grossmargin/Net sales To show th
The information contained in published financial statements is of specific importance to external users, as shareholders and investors. Without any information they would not be ca
my unadjusted balance is not the same under credits and debits? And I can''t figure what went wrong.
Q. Illustrate unearned service fees? Micro Train reports the service income in its income statement for 2010. The company enters the USD 3000 balance in the Unearned Service Fe
Q. Example of Net purchases? Only the description would change. If Hanlon had previously paid the account the debit would be to Cash instead of Accounts Payable ever since Hanl
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