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Labor Transactions
(i) Wages Paid in cash
(ii) Wages incurred like
a) Direct labor or else
b) Indirect labor
In the Financial Books
In the Costing Books
i. Wages Paid in Cash
Dr Wages a/c
Dr Wages Control a/c
Cr Cash a/c
Cr General Ledger Adjustment a/c
ii. Wages Incurred as direct labour
Not recorded in Financial Books
Dr. W.I.P a/c
Cr. Wages Control
Dr. Production Overheads Control a/c
i. Identify the organization ii. Identify the stakeholders iii. Give the major requirements for the IT application iv. Reflect on how difficult it was to do the require
This question tested their knowledge of intended reporting but more importantly requisite them to apply their knowledge and consider the impact from the investors' perspective.
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Cost Classifications and Estimation Cost classification may be defined like 'the arrangement of cost items in a logical sequence having concern to their nature and reason to b
You are thinking of investing in one of two corporations, both in the same industry, the XYZ Corporation or the ABC Corporation. Selected data follows: Sales data for the year e
explain about ruckerplan
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i want to understand everything about contract account
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Prepare a properly classified Cash Flow Statement for Sports Enterprises Ltd for the year ended 31st December 2011. Note that the Closing Cash at Bank Balance at 31st December 2011
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