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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.
1. Whate are the challenges faced in trade and solutions those problems?
briefly explain the accounting concepts which guide the accountant at the recording stage
Q. Show Advantages and disadvantages of weighted-average? Advantages and disadvantages of weighted-average when a company utilizes the weighted average method and prices are ri
the scope of operation research in modern management
The cost of goods sold section Cost of merchandise sold to customers during a period is subtracted from net sales figure for the same period to get amount of gross profit. (Ne
An example of a committed fixed cost would be: a) taxes on real estate b) management development programs c) public relations d) advertising programs
t. liabilities ratio is the same as debt equity ratio?
the consequences of non-compliance of each of the accounting concepts.
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