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Q. What is Comprehensive income and Revenues?
Comprehensive income is the alter in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. It comprises all changes in equity during a period except those resulting from investments by owners and distributions to owners.
Revenues are inflows or else other enhancements of assets of any entity or settlements of its liabilities (or a combination of both) from rendering services, delivering or producing goods or other activities that constitute the entity's ongoing major or central operations.
Q. Complicated type of business? Your study of accounting began with service companies as instance because they are the least complicated type of business. You are at present r
State and local income taxes Some states also withhold state income taxes. Texas doesn't. If state withholds taxes, there will be form similar to the federal one to determine t
contractee account is it an assets account or expenses Account
Question 1: ‘A pension fund is an arrangement under which an organization makes financial provisions for its employees as well as its senior executives.' (a) What are the r
Q. What do you mean by Equities? Assets were described earlier as the things of value owned by the business or the economic resources of the business. Equities are every claims
Determining needed adjustments Adjustments are required since certain changes take place during the accounting period. As time passes, although, the value of the asset is consu
Determine the symbols of Net Sales for the Period - Cost of Goods Sold = Gross Profit - Operating Expenses + Other Income - Other Expenses =
Question 1 Write a short note on the following with example a. Activating budgets b. Reversing journals c. Memorandum vouchers d. Optional vouchers e. Creating Bill of Materials
Q. Starting inventory and net cost of purchases? Hanlon's start inventory (USD 24000) plus net cost of purchases (USD 166000) is equivalent to cost of goods available for sale
twhat is debit?
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