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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.
Its depends on the credit period of the company i.e. A company credit period 30 days 85 of the debtors collection should be recovered with in credit period. We can say the Effectiv
I chose table 2-4 Loan Amortization Schedule, $100,000 at 6% for 5 years to discuss. Table 2-4 relates to the other two tables in that it is the opposite of the other two tables. T
How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.
Q. Describe about Assets? Assets are things of worth owned by the business. They are as well called the resources of the business. Illustration includes machines, cash and buil
A portion of company profits allocated by an employer, in good years, to an employee's trust.Contributions on behalf of every employee are expressed as a percentage of salary with
Q. Introduction to inventories? Subsequent to studying this chapter you should be able to - Record the journal entries for sales transactions involving merchandise. - Exp
Received $170,000 cash from Electronic Arts, Inc. for service revenue earned in January.
1. (a) Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage. (b) "Ledger is said to be the principal book entry and the t
What is the difference between financial statements prepared from the expanded accounting equation and those prepared from a trial balance?k question #Minimum 100 words accepted#
The balance sheet account as of July 31, 1995 for altona company are as follows: Capital: (fix lib) 35,630 Office Equipment (ass) 16730 Delivery Truck
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