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Explain the business assets Withdrawal Withdrawal (Drawing) is removal of business assets for personal use by owner. This transaction decreases the asset taken and value of
2 deprecation on equipment is calculated at 10% per annum on cost price new equipment for R400 was purchased on 1 December 2012 and has been recorded
Q. Traditional body of accounting theory? Presenting the traditional body of theory first as well as the conceptual framework second gives you a sense of the historical develop
What is the accounting equation?
Q. Example of perpetual inventory procedure? The Perpetual inventory procedure Companies use perpetual inventory procedure in a range of business settings. In the past companie
Q. Describe about Expense? Expense -- an expenditure that is chargeable against revenue during an accounting period.An expense leads to the reduction of an asset. All expenditu
When does something that is a debit becomes a credit?
what are the internal sources of accounting?
Personal Account is an account for use by an individual for their own requirements. It is a relative term to distinguish the said accounts from those accounts for corporate or busi
Accounting conventions The phrase 'convention' is used to signify customs or ethnicity as a guide to the research of accounting statements. A variety of accounting conventions
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