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Q. Describe the Cost of sales?
Cost of sales, cost of goods sold -- expense or cost of all items sold during an accountingperiod. Every unit sold has a cost of sales or cost of the goods sold. In businesses with a greatmany items flowing through, cost of goods sold or cost of sales is generally computed by this formula:
Cost of Sales = Beginning Inventory + Purchases During the Period - EndingInventory.
i want to clear concepts of journal
What is the relationship of accounting and biology?
Q. What are simple journal entries? To understand the cross-indexing and posting process trace the entries from the general journal to the general ledger. The ledgers accounts
Q. Explain about Trial balance? Trial balance -- at the close of an accounting period, transactions posted in the ledger areadded up. A trial or test balance sheet is prepared
State the steps of Merchandise inventory 1) TRANSFER THE BEGINNING INVENTORY FIGURE Debit INCOME SUMMARY for beginning inventory amount. Credit MERCHANDISE INVENTORY fo
Given this information: Lead-time demand = 600 pounds Standard deviation of lead-time demand = 52 pounds (Assume normality.) Acceptable stockout risk during lead time = 4
Q. What is Timeliness? The Timeliness requires accountants to provide accounting information at a time when it perhaps considered in reaching a decision. Usefulness of informat
Are mailing lists are considered as prepaid or period expens?
One of the companies for which you provide accounting services offers office cleaning services and has 8 customers. Cleaning services are provided in the evenings, Sunday throu
Concept of Flow of Funds : It refers to the 'Change in Funds' or 'Change in Working Capital'. That is, any increase or decrease in Working Capital. In business, daily, numerous t
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