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Q. Sales Returns and Allowances account? The Sales Returns and Allowances account is the contra revenue account to Sales that records the selling price of merchandise returned
Maryanne was looking to purchase a local business that sold coal jewelry to tourists along the interstate. The present business owner instructed his accountant, Jane Sane, CPA, to
Q. Learning objectives of trial balance? - The cash basis of accounting know revenues when cash is received and recognizes expenses when cash is paid out. - The accrual basi
Accounts payable subsidiary ledger Accounts are designed to show balance owed to every creditor. Liability accounts generally have credit balances. Accounts are not assigned nu
What if the public holiday falls on a rest day? how to pay and which one is?
Q. Describe about chain discount? Occasionally the list price of a product is subject to several trade discounts this series of discounts is a chain discount. Chain discounts s
Q. How to determine inventory cost? To place the proper evaluation on inventory a business must answer the question: Which costs must be included in inventory cost? After that
Suppose you want to have $5,000 saved at the end of five years. The bank will pay you 2% interest on your money. How much would you have to deposit today to have the $5,000 you w
i dont get how it is done
Jan. 1 Purchased a small company and recorded goodwill of $150,000. Its useful life is indefinite. May 1 Purchased for $90,000 a patent with an estimated useful life of 5 years an
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