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Q. Cash collection as point of revenue recognition?
Several small companies record revenues and expenses at the time of cash collection and payment which may not take place at the time of sale. This process is the cash basis of accounting. The cash basis is acceptable principally in service enterprises that don't have substantial credit transactions or inventories such as business entities of doctors or dentists.
can you show me a sample balance sheet with retained earnings included?
Q. Explain about Equity or net asset? An equity or net asset is the residual interest in the assets of an entity that remains subsequent to deducting its liabilities and in the
what is the implications of applying accounting concepts wrongly
Describe the term in detail Payroll PAYROLL is very vital for all employees. Employees are under the direct control of employer on a continuing basis. An independent contract
How do you set up a t account correctly?
What is the implication of applying accounting concepts wrongly
John is considering the best capital structure for his firm. Suppose there are two capital structures for him to choose from. Structure A would have 7,000 shares of stock and $160,
Why it is important for independent auditor to be a member of a professional body?
1. An accountant records a transaction when cash is paid or received under which basis of accounting? cash deferred accrual liability 2. When unearned revenue is initially rec
At December 31, 2011 and 2010, Miley Corp. had 180,000 shares of common stock and 10,000 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were decl
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