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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 to customers must exceed the expenses incurred. In July 2010 Metro Courier Inc starts selling services and incurring expenses. The descriptions of transactions that follow allow you to participate in this process and learn the necessary accounting procedures.
SCENARIO In May of the current year, your employer received a PIER report from the CRA that identified Canada Pension Plan (CPP) contribution deficiencies for employees in the org
Effects of transaction An asset supplies on hand increases (debited) as well as a liability accounts payable increases (credited) by USD 1400. The debit is to Supplies o
Q. Define Gains and Losses? Gains are raise in equity net assets from peripheral or incidental transactions of an entity as well as from all other transactions and other events
Two friends, Joe and Bill, both have carpentry skills and decide to go into business as partners together ?tting kitchen cabinets. Joe's uncle has agreed to provide £20,000 of capi
the books of deven verma could not be tallied.the accountant transferred the difference of Rs.1270 in the suspense account on the debit side the following mistakes were found later
Q. Explain about Prepaid insurance? The two accounts recitations to insurance are Prepaid Insurance (an asset) and Insurance Expense (an expense). Subsequent to posting this en
Q. What do you mean by Breakeven point? Breakeven point -- the amount of revenue from sales that exactly equals the amount ofexpense. Breakeven point is generally expressed as
I need help with the journal entries for chapters 8 & 9 of this project.
Birch issued 200 shares of $12 par common stock in exchange for a piece of equipment with a current market value of $3,000.Whichof the following is not part of the journal entry
Q. Describe about Assets? Assets are things of worth owned by the business. They are as well called the resources of the business. Illustration includes machines, cash and buil
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