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Financial statements
Summaries of financial activities are known as financial statements that are prepared on a regular basis at the end of an accounting period. Accounting period typically is one year; though, it can be any length of time for that records are maintained. Generally the minimum is one month and maximum length of time is one year for financial statements.
There are various financial statements. You are going to prepare Income Statement, Statement of Owner's Equity, and Balance Sheet. These should be completed in that order. It is very significant to always check your numbers as an incorrect number would affect more than one statement.
Establishing the Change Fund Change Fund (asset) is debited and Cash is credited. Only time this fund would be used is if the fund is established or increased, just like Pet
how to find profit income from bank?
Oligopoly is a market where the supply is controlled by a little group of companies. In this condition, the actions of single company will have a material effect on the entire mark
Q. Explain about delivery expense? When shipping goods FOB destination freight prepaid the seller is accountable for and pays the freight bill. For the reason that the seller c
started in business with cash 16,000
decrease in assat & decrease in capital
Q. Explain FOB shipping point freight collect? FOB shipping point freight collect - Buyer both initially pays and incurs the freight chargers. The proper party (buyer) paid the
Why to and by using in journal, trading a/c, p&l a/c and ledger?
A view organizes diagrams into logical groups to explain a particular aspect of the system. It is the abstraction of the system prepared is such a way as to give a perspective of a
Inventory is habitually the largest and most important asset owned by a merchandising business. The inventory of some companies similar to car dealerships or jewellery stores may c
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