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Q. Effects of failing to prepare adjusting entries?
Failure to organize proper adjusting entries causes net income and the balance sheet to be in error. You are able to see the effect of failing to record each of the major types of adjusting entries on net income and balance sheet items.
Using Micro Train Company as an instance this section has discussed and illustrated many of the typical entries that companies must make at the end of an accounting period. Afterwards chapters explain other examples of adjusting entries.
Define FBT (Fringe Benefit Tax)? Ans) The tax payable on a non-salary benefit given to an employee or an associate of the employee. The employer is likely to pay any FBT and may
Finance: It is the part of economics that studies the management of money and other assets. In easier terms it can be explained as the commercial activity of providing funds and c
began his business with equipment valued at $40,000 and place $400,000 in the business checking account. what are the accounts affected?
AP2-2
Maryanne was looking to purchase a local business that sold coal jewelry to tourists along the interstate. The present business owner instructed his accountant, Jane Sane, CPA, to
Investments by owners are raise in equity of a particular business enterprise resulting from transfers to it from other entities of something valuable to gain or increase ownership
Calculate WACC and Rate of Return Capital Structure: 50% debt and 50% equity financing Current cost of debt is 2% above prime (Prime is currently 2.5%) cost of equity is e
#Q. Example on closing process?
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
trial balance as at may 31 19*6 dr cr sales 400000 purchases 350000 sales return 5000 purchases return
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