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Determining needed adjustments Adjustments are required since certain changes take place during the accounting period. As time passes, although, the value of the asset is consu
define accounting
Q. Explain double-entry procedure? The double-entry procedure maintains the accounting equation in balance. The dual recording process generates two sets of accounts those with
Dogwood florist opened a business January 1st 2010. During 2010, they had the following transactions and economic events. For each of the transactions and economic events prepare
Q. Comparability in accounting information? When comparability exists reported similarities and differences in financial information are real and not the result of differing ac
what are the limitation
XYZ plc provides engineering and consultancy services to the oil and gas industry. Over the past few years, they have incurred expenditure of £1m researching and developing a new
Q. Show Earnings per share? Earnings per-share amounts are based upon the weighted average number of common as well as common equivalent shares outstanding during the year. Com
Uses of cash flow statements: The main usefulness of cash flow analysis is that it facilitates the Finance manager to approximation the cash necessities of the firm and match t
partner investments, journal entries. The LP partnership was formed on January 1, 19X7, by investments from Bill Levy and Marv Parcells. Levy contributed $30,000 cash and $80,000 o
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