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Q. What do you mean by work sheet?
The work sheet is a columnar sheet of a computer spreadsheet or a paper on which accountants summarize information needed to make the adjusting and closing entries and to prepare the financial statements. Typically they save these work sheets to document the end of period entries. A work sheet is merely an accounting tool and not part of the formal accounting records. Consequently work sheets may vary in format some are prepared in pencil thus that errors can be corrected easily. Other work sheets are organized on personal computers with spreadsheet software. Accountants prepare work sheets every time financial statements are needed that is monthly or quarterly or at the end of the accounting year.
Q. What is Marginal cost and marginal revenue? Marginal cost is the extra cost incurred by addingone more item. Marginal revenue is revenue from selling one more item. Economic
Q. Sales discounts and Sales returns? Sales discounts arise when the seller tenders the buyer a cash discount of 1 percent to 3 percent to induce early payment of an amount due
A)Guerrero Company occupied in the following events during 2012: 1. Began operations by issuing common stock to investors for $40,000 cash 2. Given services to customers on a
Q. Departures from cost basis of inventory measurement? In general companies must use historical cost to value inventories and cost of goods sold. But some circumstances justif
I need help with accounting 205 week four assignment
Q. Prepare a source document? A source document typically supports the evidence of the transaction. A source document is any printed or written evidence of a business transacti
The two fundamental sources of equity in a company are stockholders and creditors their combined interests are called total equities. To discover the equity ratio divide stockholde
Weston Corporation manufactures a product that is available in both a deluxe and a regular model. The company has made the regular model for years; the deluxe model was introduced
Investment banking is a is an instrument which is used by the financial organization to take a improved investment decision like issuing IPO stocks bond etc.
On January 1, 2012, Bartell Company sold its idle plant facility to Cooper Inc. for $1,050000. On this date, the plant had a depreciated cost of $735,000. Cooper paid $150,000 ca
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