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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)
Sole Proprietorship This business form is the legal default form for any person who makes no effort to organize the business otherwise but does business in the United States. T
Gary and Joyce Yau, both 30, last month bought their dream house in London, Ontario. The purchase price was $450,000 plus addition fees such as taxes, legal fees, administration fe
you would like to purchase a new car in 3 years.The current value of the vehicle you would like to purchseis 100000.The manufacturer of the vehicle has advised you,that the cost of
Why do investors invest the lion’s share of their funds in domestic securities? Answer: Investors invest greatly in their domestic securities since there are major barriers to in
can u tell me the various approaches followed by FMCG Companies in test markets
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Which is lower for a given company: the cost of debt or the cost of equity? Explain. Ignore taxes in your answer. The cost of debt is all the time less than the cost of equi
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Q. Explain the Average Rate of return Method? Average Rate of return Method (ARR): This method is as well known as Accounting Rate of Return Method. It is on the basis of accou
Compare and contrast the various types of secondary market trading structures. Answer: There are two major types of secondary market trading structures: dealer and agency. I
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