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Q. What do you mean by consigned goods?
FOB destination, freight collect - Seller acquires freight charges and buyer initially pays freight charges. Buyer deducts freight accusation from amount owed to seller. The buyer debits Accounts Payable in addition to credits Cash when paying the freight. The seller debits Delivery Expense as well as credits Accounts Receivable when informed of the freight charges. Therefore companies should include goods shipped to potential customers on approval in their inventories. Likewise companies shouldn't record consigned goods (goods delivered to another party who attempts to sell them for a commission) as sold goods. These goods remain the property of the owner (consignor) until sell by the consignee and should be included in the owner's inventory.
t. liabilities ratio is the same as debt equity ratio?
Cash Flow Analysis: As per the Institute of Cost and Works Accountants of India (AICWAI), a Cash Flow Statement is a declaration setting out the flow of cash under different
Determine the term - Working capital and current ratio Determining these ratios would help a business determine if will have enough capital to operate and can meet their debts.
What is OWNER'S EQUITY Difference between Liabilities and Assets is Owner's Equity. The can also be known as capital, proprietorship, or net worth.
Q. What is Articulate? The fundamental accounting concept of the double-entry method of recording transactions. Under the double-entry approach each transaction has a two-sided
Sucked into a wormhole while spending time in outer space, you land in a perfect world where accountants are worshipped and paid extravagantly. As an accountant, you're immediately
A portion of company profits allocated by an employer, in good years, to an employee's trust.Contributions on behalf of every employee are expressed as a percentage of salary with
explain the procidure followed in government system of accounting in india?
Write notes on 5 modern accounting techniques
contractee account is it an assets account or expenses Account
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