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Q. Describe the methods of recording?
Two general deductions from gross sales are (a) sales discounts and (b) sales returns and allowances. Sellers trace these deductions in contra revenue accounts to the Sales account. Contra accounts have typical balances that are opposite to the balance of the account they reduce. For instance since the Sales account normally has a credit balance the Sales Discounts account as well as Sales Returns and Allowances account have debit balances.
I need help with transaction 4
Management accountants may or mayn't be CPAs. If a management accountant passes an examination prepared and graded by the Institute of Certified Management Accountants (ICMA) and m
effects of technology in banking sector
State the term- Liabilities Current Liability is a debt which is due for payment within one year. Long-term liability is one NOT paid in a year. OWNER'S EQUITY Also
Q. Show double-entry procedure or duality? In every business transaction we record the total dollar amount of debits must equal the total dollar amount of credits. While we deb
Start in cell E3. Complete the series of substitution values ranging from 5 to 15 at increments of 1, vertically down column E.
Q. Explain about Purchase returns and allowances? Purchase returns and allowances A purchase return takes place when a buyer returns merchandise to a seller. When a buyer recei
Difference between Income Statement and Balance Sheet Difference between the amounts of the columns in Income Statement and Balance Sheet should be the same amount. Words "Net
Benefits of Purchases Discounts Purchases Discounts account is used to record discounts given for prompt payment. To prove ACCOUNTS PAYABLE LEDGER , you will look at bala
Inflation Accounting: It is related along with the adjustment in the value of assets that is current and fixed and of income in the light of changes in the price level. In a
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