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Q. Explain about debits and credits?
Accountants utilize the term debit instead of saying place an entry on the left side of the T-account. They utilize the term credit for Place an entry on the right side of the T-account. Debit shortened (Dr.) simply means left side credit shortened (Cr.) means right side therefore for all accounts a debit entry is an entry on the left side while a credit entry is an entry on the right side. Subsequent to recognizing a business event as a business transaction we analyze it to determine its decrease or increase effects on the liabilities, assets, stockholders' equity items, dividends, revenues or expenses of the business. Then we decode these increase or decrease effects into debits and credits.
You received an email from Carl the operations manager from the California Container division. They produce packaging for cell phones. Carl understands that his product is an imp
Please help journalize: -On January 1, 2017 Harmony issued 1,500 shares of $22 par, 8% preferred stock for $43,700. -On January 1, 2017 Harmony also issued 2,000 shares of common s
If you can earn 4 percent, how much will you have to save each year if you want to retire in 35 years with $ 1 million?
Define Carriage outwards.
debit balance
The transactions for February need to be processed on MYOB with the Username:n10026509 and no password and make sure the audit trail is on. Then Part B is a performance report. The
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Replenishing the Petty Cash Fund Debit every expense account, supplies, or drawing as needed. Credit to Cash. Petty Cash is only debited when fund is established or increased.
1. Under the FIFO Cost Flow Assumption during a period of inflation, which of the following is false? WHICH OF THE FOLLOWING IS NOT TRUE a. Income tax expenses will be hig
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