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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.
Q. Explain about Money measurement concept? Money measurement concept. Economic activity is primarily recorded and reported in a common financial unit of measure the dollar in
How can price inflation effect a university negatively in the future? Like, what are a few things in the university that will be impacted?
who are sole traders
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Q. Explain horizontal analyses and using the financial results? The computation of dollar and or percentage changes from one year to the next in an item on financial statements
Q. Determine the cost of ending inventory? The company suppose that the 20 units in inventory consist of 10 units purchased December 21 and 10 units purchased October 12. The o
Q. Show Debit and Credit column? - Debit column. In the debit column the sum of the debit is on the same line as the title of the account debited. - Credit column. In the cr
my unadjusted balance is not the same under credits and debits? And I can''t figure what went wrong.
Q. Effects of failing to prepare adjusting entries ? Failure to organize proper adjusting entries causes net income and the balance sheet to be in error. You are able to see the
Q. What is Working capital? Working capital -- current assets minus current liabilities. In most businesses majorcomponents of working capital are cash, accounts receivable and
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