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Q. Concepts of accounting? - The major underlying assumptions or else concepts of accounting are (a) business entity (b) going concern (continuity) (c) money measurement (d) st
How to prepare the worksheet Look carefully at worksheet in the text. Remember that it is an informal working paper used to prepare financial statements. Place transparenci
Q. What is periodic inventory procedure? In the periodic inventory procedure the Merchandise Inventory account is updated periodically subsequent to a physical count has been m
Q. Show Journalizing adjusting entries? Subsequent to completing Micro Train's financial statements from the work sheet you should enter the adjusting entries in the general jo
#question.prepare the required adjusting entry for September 30, 2009
Example of net realizable value? To exemplify a necessary write-down in the cost of inventory presume that an automobile dealer has a demonstrator on hand. The dealer obtained
A career in taxation is by no signifies limited to public accounting. for the reason that there are so many types of taxes impacting so many aspects of our lives tax specialists ac
Q. First-in first-out inventory? FIFO (first-in first-out): Ending inventory contains of the most recent purchases. FIFO presumes that the costs of the first goods purchased ar
tugade ,masinsin and biore are all famous athletes who have been operating a sports memorabilia store for how many years .The partnership decided to liquadate its operation rather
The Bayside Company uses the LIFO cost flow method to value inventory. In the current year, profit at Bayside is running unusually high. The corporate tax rate is also high this ye
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