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The beginning capital of the business totals $4,000. If the net income for the period totals $14,000 and the withdrawals by the owner total $3,000, what will be the new capital balance reported?
how can i determine the total debt of a commercial bank? Which financial statement do i need to look?
What is Internal control - Control of cash Internal control refers to procedures and methods a business uses to protect its assets. Checks are written for all transactio
Why is the cash basis of accounting not used when preparing financial statements?
Q. Describe about accounting. Why is it called language of business? Accounting is known as -an art of recording, classifying and summarizing transactions and events in a si
Astra Company sells financial calculators and offers instruction on their use. During its first year it expects to sell 3000 calculators at $30 each and offer 5000 hours of instruc
Q. Explain about Accrual basis and periodicity? Accrual basis and periodicity demonstrated that financial statements more accurately reflect the financial status and operations
Q. What is Asset cost and Estimated residual value? Asset cost: The asset cost is the sum that a company paid to purchase the depreciable asset. Estimated residual value:
Determine in brief about the SALES ACTIVITY Just as merchandizing businesses follow specific procedures to process and record purchases, they follow numerous procedures to proc
Q. Objective of Recording business transactions? - Use the account as the essential classifying and storage unit for accounting information. - Articulate the effects of busi
Examine the present system and recoginize specific weaknesses that must be addressed by a new improved system. As part of your analysis, prepare data flow diagrams (context, log
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