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An accounting perspective Business insight
Accounting is essential for all three types of business organizations and every company must follow generally accepted accounting principles (GAAP). As corporations have such an important impact on our economy we use them in this text to illustrate basic accounting principles and concepts.
Though corporations constitute about 17 per cent of all business organizations they account for almost 90 per cent of all sales volume. A Single proprietorship constitutes about 75 per cent of all business organizations but account for less than 10 per cent of sales volume.
Provided services on credit to Yamato P/L $5 900. How do we apply this in the t accounts
The Dividends account increases (debited) as well as an asset cash decreases (credited) by USD 3000. Transaction 15 brings to a close the analysis of the Micro Train Company transa
A supplier to the electric utility industry produces power generators. The Transportation costs are high. One market area includes the lower part of the Great Lakes region
Sales taxes and Schedule of accounts receivable Schedule of accounts receivable Accounts Receivable and individual accounts should match. Only accounts which have
Q. Define the Opportunity cost? Opportunity cost -- a useful notion in evaluating alternate opportunities. If you choosealternative A, you can't choose B, C, or D. What is the
Q. Salary potential of accountants? Selecting a major represents much additional than the choice of courses a student takes in college. To a significant degree, the student's m
debit balance
Enumerate the fundamentals of financial accounting information Frame works and principles which have been developed try to address fundamental questions like: ?Who are user
Q. Explain about closing process? Expense, revenue and dividends accounts are nominal (temporary) accounts that are merely sub classifications of a real (permanent) account Ret
Q. Define about Assets and Liabilities? Assets are feasible future economic benefits obtained or controlled by a particular entity as a result of past events or transactions.
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