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I am working on a bank reconciliation problem. How should I record the following transaction on the company's cash record? (10/31/13 Bank Rec)A two month, 8%, $1350 customer's note dated 8/25/13, discounted on 10/12/13 was dishonored by the bank on 10/26/13 and the bank charged $1374.91, which included a protest fee of $6.91
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
MarmadukeMuffett once had a girlfriend who ran an antiques business in London'sKings Road. Ever since then, he has been hooked on the furniture trade and now runsMarmaduke'sMarvell
Q. What do you mean by Operating Agreement? Operating Agreement - Agreement, generally a written document which sets out the rules by which a LIMITED LIABILITY COMPANY (LLC) is
Types of temporary differences There are two main types of temporary differences; 1) Taxable temporary difference : If the carrying amount is more than the tax base then
A huge number of variations of ROT are determined in practice, based upon how "Investment" and "Return" are explained "Investment" may be explained to comprise any of the subsequen
Level of detail Financial accounting reports provide users with a comprehensive overview of performance and position of business for a period. Consequently, information is aggr
Leverage or Gearing Ratios - These ratios include the Long Term Debt to Equity Ratio, Total Debt to Equity Ratio, Interest Coverage Ratio. Here, the interest coverage ratio is al
The purchase of a car needs a $23,410 loan to be repaid in monthly installments for 4years at 12% annual real interest rate. If annual inflation rate is 4%, find the extra amount t
THE BALANCE SHEET It shows the financial position of the company as at the end of a given financial period. The standard requires that assets and liabilities should be classifi
Since 1968, Dracula Limited has traded in Doncaster, South Yorkshire as a manufacturer of fancy-dress and theatrical costumes. It produces a wide range of general theatrical costum
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