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Two techniques of accounting for inventory are perpetual inventory procedure and periodic inventory procedure. Under perpetual inventory procedure the inventory account is constant
A of surat consigned goods to b of jaipur
Why is it more difficult to account for the inventory of a manufacturing firm than for that of a merchandising firm?
Heww Inc., issued a $50,000, 10 year bond with a stated interest rate of 6%. Assume interest payments are made semi-annually. What is the selling price of the bond if the mark
Q. Example of Periodic inventory procedure? Periodic inventory procedure Merchandising companies selling small unit value merchandise such like nuts and bolts Christmas cards n
The open items of an account can only be cleared once you post an identical offsetting amount to the account. In other words, the balance of the items assigned to every other must
Q. What do you mean by single proprietorship? A single proprietorship is a non incorporated business owned by an individual and often managed by that same person. Single propri
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
Ask question Discuss the export financing under the deferred payment system.#Minimum 100 words accepted#
Credit -- an accounting entry on the bottom or right of a balance sheet. Generally an increase inliabilities or capital or a reduction in assets. Opposite of credit is debit. Every
When a business offers a credit customer a discount for early settlement, the discount granted is a discount allowed. The consequence of a discount allowed results in the business receiving a reduced amount for a sale. Although the sales revenue is reduced, a discount allowed is never charged to the trading account. Discounts allowed are always charged as a separate expense to the profit and loss account.
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