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Inventory is habitually the largest and most important asset owned by a merchandising business. The inventory of some companies similar to car dealerships or jewellery stores may cost several times in excess of any other asset the company owns. Like an asset the inventory figure has a direct impact on reporting the solvency of the company in the balance sheet. Like a factor in determining cost of goods sold the inventory figure has a direct impact on the profitability of the company's operations as report in the income statement. Therefore the importance of the inventory figure should not be underestimated.
Q. What is Posting reference column? This column demonstrates the account number of the debited or credited account. For example in Exhibit 8 the number 100 in the first entry
They are likely to tests for tact, diplomacy, and with descriptive skills.
what is journal entry
Problem It is usually recognized that power is an essential component of accountability and that greater accountability is recognized towards those stakeholders who have more p
Q. Explain about Prepaid insurance? The two accounts recitations to insurance are Prepaid Insurance (an asset) and Insurance Expense (an expense). Subsequent to posting this en
The advent of management accounting was the subsequently logical step in the developmental method. The practice of utilizing accounting information like a direct aid to management
While perusing medical practice, is the cost of supplies, for patients on site, considered as an inventory, or an incidental cost? With 2 million in sales the chemotherapy medicine
want a question of general jouranal , t account ,traial balance , income statement and balance sheet
on January 1,20x1,A had 200,000 shares of $5 par value common stock outstanding. On January 15 declared a cash dividend of $0.5 a share
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