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Determine the concept of Closing entries-(REID)
1) Close Sales account and other income statement accounts with credit balances to Income Summary.
2) Close each expense account and other income statement accounts with debit balances to Income Summary account.
3) Close Income summary account to owner's capital account.
4) Close the Drawing account to capital account.
An inflated budgeted expense account
Cash Flow Analysis: As per the Institute of Cost and Works Accountants of India (AICWAI), a Cash Flow Statement is a declaration setting out the flow of cash under different
A company uses 85 circuit boards a day in a manufacturing process. The person who orders the boards follows this rule: Order when the amount on hand drops to 625 boards. Orders are
in cash flow statement, deductions from cash expences and payments to creditor. how do you get this answer
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
uses of accounting as a software enginner
hi
how we prepare ledger account and trial balance?
Money owed by a business enterprise for merchandise bought on open account. It is also known as "A/R" or just "Receivables". Accounts Receivable is the quantity owed to a company
How to setup T accounts
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