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A) During the year, total liabilities enhanced $106,010 and stockholders' equity reduced $67,590. What is the amount of total assets at the end of the year? B) If total assets enhanced $83,040 and stockholders' equity enhanced $118,170 during the year, what is the amount of total liabilities at the end of the year?
Components of Profit and Loss Account The Profit & Loss Account intend to check profit. It has three parts. 1) The Trading Account: These account the money in (revenue)
does immaterial items have to be recorded
Q. Modifying conventions on Materiality? The Materiality is a modifying convention that permits accountants to deal with immaterial (unimportant) items in an expedient however
Data evaluation is observed as the most significant activity in accounting recently. Evaluation of data comprises controlling the activities of business along with the assist of bu
Explain the term - Overtime Pay This means a minimum of one and one-half times the regular rate of pay for all hours worked over 40 during the week. (Time and a half) A numbe
State the list of Special journals Purchases - All credit purchases of merchandise Cash Payments - All payments of cash Sales - All credit sales of merchandise
what is the matching rule applied?
The fundamental concepts, discussed in the previous paragraphs, are the core components in the theory of accounting. Such concepts as postulates or conventions, although, permit a
Problems: Please show all calculations. Claudette, Inc., provides warranties for many of its products. The January 1, 2014, balance of the Estimated Warranty Liability account
Pro forma Financial Statements In accounting, a financial statement in which the amounts begin are fully or partially estimates; from the Latin for "as a matter of form."
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