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Q. Show Purchase Returns and Allowances account?
Both allowances and returns reduce the buyer's debt to the seller and decrease the cost of the goods purchased. The buyer may desire to know the amount of returns and allowances as the first step in controlling the costs incurred in returning unsatisfactory merchandise or negotiating purchase allowances. Therefore buyers record purchase allowances and returns in a separate Purchase Returns and Allowances account. If Hanlon returned USD 350 of merchandise to Smith Wholesale previous to paying for the goods it would make this journal entry
The entry would have been the similar to record a USD 350 allowance.
Explain the business assets Withdrawal Withdrawal (Drawing) is removal of business assets for personal use by owner. This transaction decreases the asset taken and value of
Q. General principles of accounting? Organizations that have contributed towards the development of the principles are the 1)American Institute of Certified Public Accountants
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Give me some problems in acoounting transactions so I can answer it.
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The past of accounting specifies the evolutionary pattern that reflects changing socioecoiom conditions and the enlarged reasons is that accounting is applied. In the current co
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
The process of adjusting the bond interest expense account for any premium or discount is called amortization of the premium or discount
BUS ADM-201 Fall 2012 EXTRA CREDIT 2 - Due in DS week of November 26 GRADING: Worth 15 points. Partially credit will only be given if you attempt all requirements a through g lis
RATIO ANALYSIS
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