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After the closing entries are posted to the ledger, each revenue account will have a zero balance: a. a zero balance, b. a debit balance, c. a credit balance, or d. either a debit or a credit balance.
Prepare the Adjusting Journal Entries The ledger of Casper Consulting at January 31, 2011 includes the following selected accounts: Casper's accountant is inexperienced, an
State the term- Purchases Returns and Allowances Purchases Returns and Allowances is the name of the account which provides better control of allowances and returns of mercha
preparing trial balance with balance method
It is reduction of taxes where from the income is produces and regarding services to be taxed there are about 120 services which are taxed in India for provision of service tax
Q. Explain about Accounting period? As those interested in the activities of business need timely information companies must prepare financial statements periodically. To organ
Company A has only been in existence for two full years as a public company. Prior to this, it was a segment of large multinational and was spun off as stand-alone, public company.
What are the elements of accounting assets Assets are items with money value which are owned by a business. Some instance are: cash, accounts receivable (selling services or g
If partners do not draw up a partnership agreement, the provisions of the Partnership Act apply on which statement is true like a provision of the Partnership Act? A Interest on
Acid test ratio = 2.5, current ratio = 1.5 net working capital = 10,00,000 fixed assets =? Share holder''s fund = 15,00,000 Stock inventory =? Bank overdraft =? Share capital =
Explain in detail about the MERCHANDISE INVENTORY Cost of merchandise purchased during an accounting period is debited to Purchases account. To determine VALUE of the goods on
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