budgeting, Accounting Basics

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Ledger, on 1st july,2008,machinery purchased rs10,000 for cash from bhim.gi...

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Inflation Accounting: It is related  along with the adjustment in the value of assets that is current and fixed and of income in the light of changes in the price level. In a

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80 - 20 rule - A common rule of thumb in business which says that 20% of the items produce80% of the action -- 20% of product line produces 80% of the sales, 20 percent of thecusto

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Q. What is Sales Discounts account? The Sales Discounts account is the contra revenue account to the Sales account. In the income statement the seller deducts this contra reven

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On December 31, 2013, a company issues bonds with a par value of $600,000. The bonds mature in 10 years, and pay 6% annual interest, payable each June 30 and December 31. The bon

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In recent years, there has been a lot of media coverage about the funding status of pension plans for state employees. In many states, the amount of money invested in employee pens

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Woodie Limited issues $5 million in convertible bonds on 1 July 2012. They are issued at the fair value and pay an interest rate of 4 percent. The interest is paid at the end of ea

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“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.”

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