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Q. Illustrate a sales cycle of company? When exploratory a company's management, sales cycle and users of financial data must be aware of any seasonal changes that may affect i
On January 1, 2012, the organizers of the Parsons Corporation contained their charter and issued 10,000 shares of $1 par common stock for $4 per share. During 2012, the corporation
Why is a provision for depreciation made in the financial statements? A to charge the cost of non-current assets against profits B to make a provision for repairs C to mak
Q. Show Transactions affecting the income statement? To continue to exist a business must be profitable. This signifies that the revenues earned by providing goods and services
Assume that the following are independent situations recently reported in the Wall Street Journal. 1. National Electric 8% bonds, maturing January 28, 2013, were issued at 112.16.
Q. Show Adjustments for deferred items? This segment discusses the two types of adjustments for deferred items asset/expense adjustments and liability/revenue adjustments. In t
Q. Illsutarte the Summary of transactions? Summary of transactions is a teaching tool utilized to show the effects of transactions on the accounting equation. Note that the sto
1. My accountant has told me that my business made a profit of £100,000 last year. However over the same time period my bank balance has decreased and not increased as I expected.
Q. Dependability of information? Additionally to being relevant information must be reliable to be useful. Information has reliability when it faithfully describes for users wh
Data evaluation is observed as the most significant activity in accounting recently. Evaluation of data comprises controlling the activities of business along with the assist of bu
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