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Q. Show Recording changes in dividends?
Recording changes in dividends ever since dividends decrease retained earnings increases appear on the left side of the Dividends account and diminish on the right side. Therefore the firm records payment of a USD 2000 cash dividend as follows At the last part of the accounting period the accountant transfers any balances in the expense and revenue and Dividends accounts to the Retained Earnings account. This transfer take place only after the information in the expense and revenue accounts has been used to prepare the income statement. We illustrate and discuss this step in section 4. To resolve the balance of any T-account total the debits to the account total the credits to the account and deduct the smaller sum from the larger. If the total of the debits exceeds the sum of the credits the account has a debit balance. For illustration the following Cash account uses information from the preceding transactions. The account contained a debit balance of USD 13400 computed as total debits of USD 16000 less total credits of USD 2600.
Q. Goal of financial reporting? The second goal of financial reporting is to provide information to help present and potential investors and creditors and other users in assess
Cowhand's Bar-B-Q House went into business on January 1, 2009. The following information is available at December 31, 2009: Sales revenue for the year $30
Perth Ltd acquired 80% of the share capital of Summer Ltd on 1 July 2011. The following equity balances appeared in the records of Summer Ltd at the date of acquisition: Share capi
Adjusting entries. You have been retained to examine the records of Kathy's Day Care Center as of December 31, 20X3, the close of the current reporting period. In the course o
Money payable by customers (individuals or corporations) to the other entity in exchange for goods or services that have been given or used, but not yet paid for. Receivables typic
i have an assignment fro perdisco platform managing general entries of basic accounts will u guys be able to help with it
Q. What is depreciable amount? The dissimilarity between assets's cost and its estimated residual value is an asset's depreciable amount. To persuade the matching principle the
collection of data and methodology
what are the implications of applying accounting concepts wrongly
Q. Example of adjusting entries? Regulate entries bring the amounts in the general ledger accounts to their proper balances before the company prepares its financial statements
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