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Q. Explain about Trial balance?
Trial balance -- at the close of an accounting period, transactions posted in the ledger areadded up. A trial or test balance sheet is prepared with assets on one side and liabilities andcapital on the other side. Two sides should balance. If they don't, accountants should search through the transactions to find out why. They keep making trial balances till thebalance sheet balances.
ACCT225-1204A-01 Introduction to Tax Task Name: Phase 5 Individual Project Deliverable Length: All applicable tax forms and a Word document of 1–2 pages Details: Weekly tasks or
Explain about the RECORDING PURCHASES Source document for recording a purchase of merchandise is purchase invoice. o An instance of a transaction of purchasing merchandise
Adjusting entries. You have been retained to examine the records of Kathy's Day Care Center as of December 31, 20X3, the close of the current reporting period. In the course o
Q. Explain about Sales discounts? Sales discounts when a company sell goods on account it clearly specifies terms of payment on the invoice. For instance the invoice in Exhibit
Q. General principles of accounting? Organizations that have contributed towards the development of the principles are the 1)American Institute of Certified Public Accountants
Consumers and others: Consumers' organizations, welfare organizations, media and public at huge are also interested in condensed accounting information so as to appraise the effic
Q. Define purchase discounts and purchase returns? Two general deductions from purchases are (a) purchase discounts and (b) purchase returns and allowances. In the general ledg
Q. What is Articulate? The fundamental accounting concept of the double-entry method of recording transactions. Under the double-entry approach each transaction has a two-sided
Explain any two concepts of accounting with examples
what are welfare payments or consumer subsidies
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