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Q. Explain about Accountants record expenditures?
Accountants record expenditures on physical resources such like buildings, land and equipment that benefit future periods as assets. But they expense expenditures on human resources for hiring and training that benefit future periods. As well when a computer is dropped and destroyed accountants record a loss. But when the president of the company dies they record no loss. Must the accounting model be changed regarding the accounting for human resources?
the consequences of non-compliance of each of the accounting concepts.
The Bayside Company uses the LIFO cost flow method to value inventory. In the current year, profit at Bayside is running unusually high. The corporate tax rate is also high this ye
Q. Responsibility of Leader and expert? As a partner in the firm Tracy will have numerous broad responsibilities. She will engage in business development, high-level client ser
journal entries and how to calculate entries 1. Braves estimates bad debt expense at 2% of net sales 2. At 12/31/11, 6 months of rent remains on the storage facility Braves lease
Business is an activity performed with the only intention of earning profit. The activity may differ according to the scope and volume.
Q. What is Purchase Discounts account? The buyer records the purchase discount merely when the invoice is paid within the discount period and the discount is taken. The Purchas
Q. What is Passage of title in transpotation? Passage of title is a term that point to the transfer of the legal ownership of goods. Title to the goods usually passes from sell
example of increase asset, decrease owner equity
XYZ Solutions Pvt Ltd purchased a new vehicle for their employee Sonia to use for both work and private purposes on 1 November 2010. The car cost $38,500 and they paid an extra $2
1. The closing stock of Prince Corporation has been reduced by $8,000 from its opening amount of $22,000. 2. No dividend has been paid or proposed by the company. 3. The only cap
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