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Q. Prepare a source document?
A source document typically supports the evidence of the transaction. A source document is any printed or written evidence of a business transaction that describes the essential facts of that transaction. Illustration of source documents are receipts for cash paid or received and checks written or received and bills sent to customers for services performed or bills received from suppliers for items purchased, sales tickets, cash register tapes and notes given or received. We handle source documents continually in our everyday life. Every source document initiates the process of recording a transaction.
Q. Prepare a trial balance with example? The Larry Fisher was captain of the football team at Prestige University. Afterwards he earned a master's degree in business administra
Numerous accounting organizations have codes of ethics governing the behaviour of their members. For example both the American Institute of Certified Public Accountants and the Ins
The Greenwood Company purchased equipment costing $900. Greenwood paid $400 in cash and agreed to pay the remaining amount in thirty days. As a result of this transaction
What is the relationship of accounting and biology?
Q. Explain about Cost of goods sold? Cost of goods sold is the main expense in merchandising companies. Note the cost of goods sold segment of the classified income statement i
Instructions: 1. Using the journal entry sheet provided, record the transactions for January. January is the first full month of operations. 2. After journalizing the transactio
How to perform a basic accounting training progrum ..
In earlier section, we had illustrated accounting as the language of business. Along with language, accounting has several dialects. There are dissimilarities in terminology. In de
You just took out a variable-rate mortgage on your new home. The mortgage value is $100,000, the term is 30 years, and initially the interest rate is 8%. The interest rate is fixed
Implication of applying accounting concept wrongly
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