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How to define Inter company Transaction in Account Receivable?
Ans) Intercompany transactions are those transactions that takes place among two or more entities of the similar group of company. So the receivable of one entity would the payable of one another entity. All intercompany transactions are eliminated before preparing the final Balance sheet of the group company.
Though the results of the operations of an exact enterprise can be termed as precisely only after the business has ceased to control, its assets have been sold off and responsibili
Provided services on credit to Yamato P/L $5 900. How do we apply this in the t accounts
Q. Sales returns affect both revenues and cost of good? When a company sells merchandise to customers then it transfers the cost of the merchandise from an asset account that i
accounts show the amount of money owed to the firm by customers. A. Supply B. Prepaid C. Receivables D. Payables
list me all the asset in the world?
what is the implication of applying accounting concepts wrongly
Q. What do you mean by Not-for-profit organizations? Not-for-profit organizations such like charities, fraternities, churches, and universities need accountants to record and a
Numerous accounting organizations have codes of ethics governing the behaviour of their members. For example both the American Institute of Certified Public Accountants and the Ins
Meranda Corporation purchases a machine for $125,000. It has an estimated salvage value of $10,000 an is expected to produce 50,000 units in its lifetime. During the first year of
Taxes are affected by the level of economic activity: When output increases, tax revenues typically increase, when output falls, tax revenues fall. Suppose a balanced- budget amend
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