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Q. Explain the Adjusting Journal Entry?
Adjusting Journal Entry - An accounting entry made into a subsidiary ledger known as the Generaljournal to account for a periods changes, omissions or other financial data essential to be reported‘in the books' but not generally posted to the journals used for typical period transactions (cashreceipts journal, cash disbursements journal, payroll journal, sales journal and so on) entry is posted to general ledger accounts directly and generally will be numbered itself, datedand have an explanation. Illustration: AJE# 1 12-31-2003, debit Cash in bank $1,000. Creditinterest income $1,000, to record interest income on business bank account at year end, notrecorded in cash receipts journal though credited by the bank. (Cross-reference bank reconciliationand account where it was found)
Market mechanism: Market mechanism is a term from economics denoting to the use of money exchanged by sellers and buyers with an open and understood system of time and value t
DISCUSS THE APPLICABILITY OF OPERATING CYCLE IN VEGETABLE GROWING.
You are given the following information for Clapton Guitars, Inc. Profit margin 6.3% Total Asset turnover 1.6 Total debt ratio 0.44 Payout ratio 35% Calculat
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Your broker calls to offer you the investment opportunity of a lifetime, the chance to invest in mortgage-backed securities. The broker explains that these securities are entitled
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What the term objectives denotes- financial management It must be noted at the outset that term 'objective' is used in the sense of a goal or decision criterion for three decis
The ledger of AISExperts Inc. showed the following balances after adjustment , but before closing, on December 31, 2012, the end of the current year: Accounts payab
Q. Importance of the cost of capital? 1. Evaluating financial performance: the actual profitability of the project is compared to the projected overall cost of capital and th
What is accumulated depreciation? Depreciation is the allocation of an initial cost over time of asset. Whereas the term accumulated depreciation is the total of all the deprec
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