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Q. Describe about ledger? A ledger (general ledger) is the absolute collection of all the accounts of a company. The ledgers are feasibly in a bound volume in, loose-leaf form
Rosco Company purchased 35,000 shares of common stock of Paxton Corporation as a long term investment for $900,000. During the year, Paxton Corporation reported net income of $300,
Explain the term- CASH SHORT AND OVER This account is used to record both a shortage and overage of cash in cash drawer. When change is made during a business day, mistakes can
I AM HAVING DIFFICULTIES SOLVING ONE PARTICULAR ACCOUNTING PROBLEM
Corporations are subject to specific corporate tax rates different from those for individuals. True False
80 - 20 rule - A common rule of thumb in business which says that 20% of the items produce80% of the action -- 20% of product line produces 80% of the sales, 20 percent of thecusto
Q. What is Date column in journal? The first column on every journal page is for the date. Intended for the first journal entry on a page this column contains the year and mont
You have been asked to ready a bill for services. What information should be contained in the bill? Ans) Service Provider's Details (i.e) Organization name and address. Ser
What is the implication of applying accounting concepts wrongly
Q. Explain about Staff accountant? Let us travel with Tracy as she begins her career at the staff level. At the onset, she works directly under a senior accountant on each of h
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