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Q. Explain about perpetual inventory procedure? When discussing inventory we require clarifying whether we are referring to the physical goods on hand or the Merchandise Invent
Amounts paid on June 30 for a 1-year insurance policy. Is this a pre¬paid expense, (2) unearned revenue, (3) accrued expense, (4) accrued revenue, or (5) none of the foregoing.
Rosco Company purchased 35,000 shares of common stock of Paxton Corporation as a long term investment for $900,000. During the year, Paxton Corporation reported net income of $300,
Cross indexing is made up
what is accounting equation and introduction
Are mailing lists are considered as prepaid or period expens?
Q. What is trial balance? The firm credits two Accounts Payable and accounts Cash in this one entry. But the dollar totals of the debits and credits are equal. Cyclically accou
What is the change fund Business that have many cash transactions generally establish this fund, which is an amount of money which is placed in the cash register drawer and is
Q. General-purpose financial statements? Accountants prepare general-purpose financial statements at usual intervals to meet many of the information needs of external parties a
The advent of management accounting was the subsequently logical step in the developmental method. The practice of utilizing accounting information like a direct aid to management
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