budgeting, Accounting Basics

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Continuity concept, Accounting supposes that the business as an accounting ...

Accounting supposes that the business as an accounting entity will continue to operate for a long time in the future, unless there is superior evidence to the contrary. The enterpr

Debtors play its role in accounts receivable, Debtors are the major role of...

Debtors are the major role of the business. He is the whole back bone of the business. The goodwill of the concern is in the hands of debtors because he is the person who takes our

Branch accounting, Mohan brothers invoiced goods to their branch at cost pl...

Mohan brothers invoiced goods to their branch at cost plus 33.33%. All the cash collected by branch is banked on the same day to the credit of head office. All expenses are paid by

Lifo under periodic inventory procedure, Q. LIFO under periodic inventory p...

Q. LIFO under periodic inventory procedure? The LIFO (last-in, firstout) method of inventory costing presume that the costs of the most recent purchases are the first costs cha

Difference between fica and federal income taxes, Difference between Fica a...

Difference between Fica and federal income taxes  Employers should file Form 940 with the IRS at the end of every calendar quarter. There are several rules about when to turn i

Computer average stock, 1. The closing stock of Prince Corporation has been...

1. The closing stock of Prince Corporation has been reduced by $8,000 from its opening amount of $22,000. 2. No dividend has been paid or proposed by the company. 3. The only cap

Suspense account, The book of Deven Verma could not be tallied. The account...

The book of Deven Verma could not be tallied. The account transferred the difference of Rs. 1.270 in the suspense account on the debit side. the following mistakes were found later

Student, In Excel, I need help with formulas

In Excel, I need help with formulas

Explain the terms assets and liabilities, Two friends, Joe and Bill, both h...

Two friends, Joe and Bill, both have carpentry skills and decide to go into business as partners together ?tting kitchen cabinets. Joe's uncle has agreed to provide £20,000 of capi

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