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Q. Explain about Stockholders equity?
Stockholders' equity demonstrates the owners' interest in the business. This interest is equivalent to the amount contributed plus the income left in the business. The items in stockholders' equity in The Home Depot's balance sheet are paid-in capital (including common stock) and retained earnings. Paid-in capital demonstrates the capital paid into the company as the owners' investment. Retained earnings demonstrate the cumulative income of the company less the amounts distributed to the owners in the form of dividends. Cumulative translation adjustments consequence from translating foreign currencies into US dollars. The next section demonstrates how two categories on the classified balance sheet relate to each other. Together they assist reveal a company's short-term debt-paying ability.
Q. Show Recording changes in assets? Recording changes in assets, liabilities, and stockholders' equity While recording commerce transactions remember that the foundation of
Q. Sales Returns and Allowances account? The Sales Returns and Allowances account is the contra revenue account to Sales that records the selling price of merchandise returned
Suppose a firm owns oil well assets. It is deciding how much oil to extract from its oil wells this year and next year. Production of oil costs $10 per barrel this year; next year,
Q. What are adjusting entries? When you start to analyze business transactions you saw that the evidence of the transaction is typically a source document. It is any printed or
consumer mind is a black box
How do you do cross-indexing?
INCOME SUMMARY ACCOUNT This is a temporary account which used to summarize the balances of temporary revenue and expense accounts. This is also known as a clearing account. The
when youre using accounting software why would you use hot keys and shortcuts a.to quickly access commands b.to input data for you c.to start the program d.to write checks
Q. Advantages and Disadvantages of FIFO? FIFO: Advantages (a) FIFO is easy to apply (b) the assumed flow of costs habitually corresponds with the normal physical flow of goods
Question Social accounting is a way of calculating and reporting on an organisation's ethical and social performance. It is principally concerned with offering a complementary
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