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Q. Show double-entry procedure or duality?
In every business transaction we record the total dollar amount of debits must equal the total dollar amount of credits. While we debit one account (or accounts) for USD 100 we should credit another account (or accounts) for a total of USD 100. The accounting requirement that every transaction be recorded by an entry that has equal debits and credits is called double-entry procedure or duality.
Weston Corporation manufactures a product that is available in both a deluxe and a regular model. The company has made the regular model for years; the deluxe model was introduced
The book of Deven Verma could not be tallied. The account transferred the difference of Rs. 1.270 in the suspense account on the debit side. the following mistakes were found later
on april-1,2005,raghu started a business of selling steel pipes and angles.he invested cash of Rs.50,00,000 & opened a current a/c with bank for Rs.20,00,000.He took loan from ICIC
Explain about the RECORDING PURCHASES Source document for recording a purchase of merchandise is purchase invoice. o An instance of a transaction of purchasing merchandise
The capital accounts of Hawk and Martin have balances of $160,000 and $140,000, respectively, on January 1, 2010, the beginning of the current fiscal year. On April 10, Hawk inve
cross indexing is made up of
Are mailing lists are considered as prepaid or period expens?
Bonds issued giving the holder the option of exchanging the bonds for capital stock of the corporation are called
Inflation Accounting: It is related along with the adjustment in the value of assets that is current and fixed and of income in the light of changes in the price level. In a
what do you mean by 90% of the entire issue to be received before the allotment of shares?
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