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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.
Perpetual and Periodic inventory a) Describe the difference between the perpetual inventory method
pls explain expenses incurred
What is Post closing trial balance This statement would only show permanent accounts with a balance; all temporary accounts must have a zero balance. Credits and Debits must ba
Assorted fund, a U.K.-based globally diversified equity mutual fund, is considering adding Talisman Energy Inc. (Toronto Stock Exchange: TLM) to its portfolio. Talisman is an indep
Your client, Hope, of Hope's Country Corner, is curious about two events will influence both taxable and financial income. The first event involves the purchase of pottery-making e
OBJECTIVES OF FINANCIAL STATEMENT ANALYSIS Financial Statements are analyzed by dissimilar users for dissimilar purposes. Some of the purposes are as under- 1. To recognize
On July 1, 2010, Harris Co. issued 6,000 bonds at $1,000 each. The bonds paid interest semiannually at 5%. The bonds had a term of 20 years. At the time of issuance, the market r
The capital structure of Wild West Inc. is as follows: - Debts: $5,000,000 (face value) bonds with coupon rate at 8.00% and present price at par - Preferred shares: $2,000
Importance of The bank statement Bank sends out bank statements each month. It's significant that this statement and checking account balance balances. There are certain items
AL MASA a sole trader,decided to install a new machine to use
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