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What is Purchase Returns?
A client comes to you for investment advice on his $500,000 winnings from the lottery. He has been offered the following options by three different financial institutions and reque
Why to and by using in journal, trading a/c, p&l a/c and ledger?
The assets and liabilities of Amos Moving Services at May 31, 2011, the end of the current year, and its revenue and expenses for the year are listed below. On April 1, 2010, the
Based on the financial statements for Jackson Enterprises (income statement, statement of owner's equity, and balance sheet) shown below, prepare the following financial ratios.
Payroll implies with paying your employees (having seeing that the government gets the monies they require you to withhold from the employees and the payroll taxes they needs you t
Annual interest of 5% paid if balance exceeds 800, $7 monthly fee if account falls below minimum balance, average monthly balance $1,160, account falls below $800 during 5 months
Q. What is accrual basis of accounting? In the following illustration, notice that every business transaction affects two or more accounts in the ledger. As well note that
Q. What are Service companies? Service companies carry out services for a fee. This group comprise law firms, accounting firms and dry cleaning establishments. The early sectio
Birch issued 200 shares of $12 par common stock in exchange for a piece of equipment with a current market value of $3,000.Whichof the following is not part of the journal entry
Q. What is Timeliness? The Timeliness requires accountants to provide accounting information at a time when it perhaps considered in reaching a decision. Usefulness of informat
A purchase return or return outward arises when a business or purchaser returns to a supplier goods previously bought from the supplier. The item may be returned for a range of different reasons.
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