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Q. Show Unearned revenues?
Unearned revenues- revenues received in advance consequence when a company receives payment for goods or services before earning the revenue such as payments for subscriptions to a magazine. These unearned revenues signify a liability to perform the agreed services or other contractual requirements or to return the assets received. Companies report any current instalment on long-term debt due within one year under current liabilities. The outstanding portion continues to be reported as a long-term liability.
Purchased trucks and office equipment for cash Metro paid USD 20000 cash on behalf of two used delivery trucks and USD 1500 for office equipment. Office equipment and Trucks ar
A user buys a new transponder for $20. What debit and credit entries would need to be made?
What is the difference between financial statements prepared from the expanded accounting equation and those prepared from a trial balance?k question #Minimum 100 words accepted#
The Bayside Company uses the LIFO cost flow method to value inventory. In the current year, profit at Bayside is running unusually high. The corporate tax rate is also high this ye
Management accountants may or mayn't be CPAs. If a management accountant passes an examination prepared and graded by the Institute of Certified Management Accountants (ICMA) and m
State the term- Purchases Returns and Allowances Purchases Returns and Allowances is the name of the account which provides better control of allowances and returns of mercha
Draw a stem-and-leaf plot for the data set. (Enter numbers from smallest to largest separated by spaces. Enter NONE for stems with no values.) Data set A: The annual wages of emp
Fund flow deals with transaction within financial year (One year) while Cash flow Statement record only the cash transaction.
Why is a provision for depreciation made in the financial statements? A to charge the cost of non-current assets against profits B to make a provision for repairs C to mak
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 deb
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