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A company pays rates annually/yearly in advance on 1 April every year. $4000 is paid by them on 1 April 2009 and $4800 on 1 April year 2010. The company's accounting year end is 31 December.
What is the charge for rates in the 2010 income statement?
a) $4000
b) $4200
c) $ 4600
d)$4800
Recording Private Company Credit Card Sales Goes to the individual company-not a bank. Treated as a sale on account. Credit card Company is responsible for collection of
Comprehensive Problem in Trial Balance Cash $ 26,470 A/R 14,222 Office Supplies 4,298 Prepaid Insurance 23,137 Equipment 131,495 A/D - Equipment $19,096 Accounts P
Q. What is Prepaid expense? A prepaid expense is an asset pending assignment to expense such as prepaid rent, prepaid insurance and supplies on hand. Note that the character of
Q. What are Bad debts? Bad debts -- amounts owed to a company which aren't going to be paid. An accountreceivable becomes a bad debt when it's recognized that it won't be paid.
current and non current liabilties
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with help of illustrations,comment on final accounts
State the steps of Merchandise inventory 1) TRANSFER THE BEGINNING INVENTORY FIGURE Debit INCOME SUMMARY for beginning inventory amount. Credit MERCHANDISE INVENTORY fo
how do I do a cash payments journal?
In addition, assume that Anheuser-Busch InBev sold 200 million barrels of beer during the year. Assume that variable costs were 75% of the cost of goods sold and 40% of selling,
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