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Q. What are Accrued items explain with example?
Delayed items consist of two types of adjusting entries asset/expense adjustments and liability/revenue adjustments. For instance prepaid insurance and prepaid rent are assets until they are used up then they become expenses as well unearned revenue is a liability until the company renders the service then the unearned revenue becomes earned revenue.
Accrued items consist of two kinds of adjusting entries asset/revenue adjustments and liability/expense adjustments. For instance assume a company performs a service for a customer but has not yet billed the customer. The accountant files this transaction as an asset in the form of a receivable and as revenue because the company has earned revenue. As well assume a company owes its employees' salaries not yet paid. The accountant files this transaction as a liability and an expense because the company has incurred an expense.
The organization's name is Coffee Affectionardo Pty Ltd and the company imports and sell various types of coffee machines, grinders, filters and beans. The business has two dir
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explain the proceedure followed in government system of accounting in india
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Q. What is Operating revenues? Operating revenues are the revenues generated by the main activities of the business- generally the sale of products or services or both.
what is the contributed capital and how do you figure it out?
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