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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 Inventory account which is the financial representation of the physical goods on hand. The difference between periodic and perpetual inventory procedures is the frequency with which the Merchandise Inventory account is updated to reflect what is physically on hand. Under perpetual inventory procedure the Merchandise Inventory account is endlessly updated to reflect items on hand. For instance your supermarket uses a scanner to ring up your buy. While your box of Rice Krispies crosses the scanner the Merchandise Inventory account demonstrate that one less box of Rice Krispies is on hand.
Q. Complicated type of business? Your study of accounting began with service companies as instance because they are the least complicated type of business. You are at present r
Part 1: Students should consult with appropriate personnel in order to undertake an assessment of the client’s financial needs. Students must undertake an interview / consultation
What is Internal control - Control of cash Internal control refers to procedures and methods a business uses to protect its assets. Checks are written for all transactio
Q. Explain Merchandise in transit? Merchandise in transit is merchandise in the hands of a shipment company on the date of a physical inventory. As stated above buyers should
where dose inventory changes aper on the balance sheet
Q. Explain double-entry procedure? The double-entry procedure maintains the accounting equation in balance. The dual recording process generates two sets of accounts those with
How do I do case problem level 1 for chapter 3 of succeeding in business with Microsoft excel 2013?
on which shares pre acquisiton dividend received
Sales taxes and Schedule of accounts receivable Schedule of accounts receivable Accounts Receivable and individual accounts should match. Only accounts which have
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