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Q. Classes and types of adjusting entries?
Adjusting entries plunge into two broad classes deferred meaning to postpone or delay items and accrued meaning to grow or accumulate items. Deferred items consist of adjusting entries relating data previously recorded in accounts. These entries engross the transfer of data previously recorded in asset and liability accounts to expense and revenue accounts, respectively. Accrued items consist of regulate entries relating to activity on which no data have been previously recorded in the accounts. These entries engross the initial or first recording of assets and liabilities and the related revenues and expenses.
Q. Explain about Freight collect? Freight collect indicates the buyer should initially pay the freight bill on the arrival of the goods. To demonstrate the use of these terms s
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 =
Q. Explain about Manufacturing companies? Manufacturing companies purchase materials convert them into products and then sell the products to other companies or else to the fin
Components of Profit and Loss Account The Profit & Loss Account intend to check profit. It has three parts. 1) The Trading Account: These account the money in (revenue)
Assignment Comments – Debt-to-assets ratio: 50% Current Ratio: 1.8x Total assets turnover: 1.5x Days sales outstanding: 36.5 days* Gross profit margin
Q. Explain Vertical analysis? Vertical analysis demonstrates the percentage that each item in a financial statement is of some significant total such as total assets or sales.
While mainly students are aware that accountants frequently assist their clients with tax returns and other tax issues, few are aware of the large number of diverse and challenging
Q. Explain Merchandise in transit? Merchandise in transit is merchandise in the hands of a shipment company on the date of a physical inventory. As stated above buyers should
Q. Equity segment of a corporate balance sheet? The stockholders' equity segment of a corporate balance sheet can become more complex as you will see later in the text. But the
Determining the physical quantity that should be contained in inventory normally is a simple matter because that amount have of items in the possession of the company. The cost of
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