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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 effect on each party engaging in the transaction. Therefore to record a transaction each party debits at least one account and credits at least one account. The total debits equal the total credits in every journal entry. When learning how to prepare work sheets in section 4 you learned that financial statements are basically related and articulate (interact) with each other. For instance we carry the amount of net income from the income statement to the statement of retained earnings. Then we hold the ending balance on the statement of retained earnings to the balance sheet to bring total assets and total equities into balance.
trying to put the numbers into the correct asset t-account and not adding up
A vendor reduces an item listed at $140 on July 1st by 20%, and then reduces it another 25% on September 1st. What is the sale price of the good after the last reduction? A. $7
what are the basic theory of accounting
Describe the mechanisms that WorldCom's management used to transfer profit from other time periods to inflate the current period.
i need to pay rent for 3 year 2011,2012,and 2013. am in 2012 1 December. what entries will be there for rent account and the rant account balance amount
If Alisha Maintenance manufacturing has: total maintenance cost of $2,785,000 total fixed maintenance cost of $310,000 total variable maintenance cost of $2,475,000 total m
The resources as machinery, property, buildings and land rights etc. such a business owns are termed as assets. The money values allocated to assets are derived from the cost conce
the Dwyer corporation incurred costs of 114000 in purchasing a process which it eventually had patented. The patent was issued on July 20x1. To secure the patent, an additional 6
Lego Toys is planning to produce new toys at its factories. The setup cost of the production facilities, production costs and profits for each toy are given below: Toy Setup c
does immaterial items have to be recorded
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