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AL MASA a sole trader,decided to install a new machine to use within her sole trader business
Q. Sales discounts and Sales returns? Sales discounts arise when the seller tenders the buyer a cash discount of 1 percent to 3 percent to induce early payment of an amount due
Personal Account is an account for use by an individual for their own requirements. It is a relative term to distinguish the said accounts from those accounts for corporate or busi
Closing entries perhaps prepared directly from the work sheet. The first journal entry debits all items appearing in the Income Statement credit column as well as credits Income Su
As part of their divorce agreement , Harry transfers to Mary, his former spouse, GM stock with a market value of 30000, Harry had $20000 invested in the stock. How does this transf
What is TRIAL BALANCE This statement is a listing on a certain date which demonstrates all accounts and their balances. This generally happen at the end of the month however it
the spelling of number is different than code
Posting closing entries When closing entries are entered in the General Journal, they must appear on the next line after Adjusting Entries. The words "Closing Entries" must be
What is a limitation of the use of accounting information that is totally outside the entity's control? A changes in legal reporting requirements B changes in inventory valua
office supplies on hand at year-end amounted to 3000.
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