Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Q. Illustrate perpetual inventory procedure?
Data from Exhibit serves like the basis for some of the entries. You would debit the Merchandise Inventory account to record the enhance in the asset due to purchase costs and transportation-in costs. You would credit Merchandise Inventory to record reduces in the asset brought about by purchase discounts, purchase returns and allowances and cost of goods sold to customers. The balance in the account is the cost of the inventory that must be on hand at any date and this entry records the purchase of 10 units on March 2 in Exhibit.
You would as well record the 10 units sold on the perpetual inventory record in Exhibit. Perpetual inventory procedure needs two journal entries for each sale. One entry is at selling price a debit to Accounts Receivable (or Cash) as well as a credit to Sales. The other entry is at cost a debit to Cost of Goods Sold as well as a credit to Merchandise Inventory. Assume that the 10 units sold on March 10 in Exhibit had a retail price of USD 13 each you would record the following entries.
Limitations of Funds Flow Statement : despite the a variety of uses of the announcement, it has convinced problems also. They consist of the subsequent i) It cannot substitute
At the reception it is decrypted and actual data is obtained. Explain the different methods of encryption technique
Q. What is credit balance? If on the other side the sum of the credits exceeds the sum of the debits the account has a credit balance. For example assume that a company has an
Acme Inc. has total liabilities of $120,000, total sales of $80,000, net income of $12,000, current assets of $90,000 and total assets of $150,000. What is the debt to equity rat
accounts show the amount of money owed to the firm by customers. A. Supply B. Prepaid C. Receivables D. Payables
Q. Explain sales return? A sales return is merchandise return by a buyer. Buyers and Sellers regard a sales return as a cancellation of a sale. Otherwise some customers keep un
Depreciation on an Motor Vehicle of 5,000,000
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
Q. Procedure of recording business transactions? The raw information of accounting is the business transactions. We documented the transactions in section 1 as increases or dec
Q. Specific identification method of inventory? Specific identification- The specific identification method of inventory costing put together the actual cost to an identifiable
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd