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Q. What is Net realizable value?
Companies must not carry goods in inventory at more than their net realizable value. Net realizable value is the approximate selling price of an item less the estimated costs that the company incurs in preparing the item for sale and selling it. Obsolete, Damaged or shopworn goods often have a net realizable value lower than their historical cost and must be written down to their net realizable value. But goods don't have to be obsolete, damaged or shopworn for this situation to occur.
Technological changes as well as increased competition have caused significant reductions in selling prices for such products as DVD players, computers, TVs and digital cameras.
A of Surat consigned goods to B of Jaipur to be sold at or above invoice price. B is entitled to get a commission of 8% on sales at invoice price plus 25% of any surplus price real
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What is journal entry for Input CST which are paid at the time of purchases of goods from other state.
Debtors are the major role of the business. He is the whole back bone of the business. The goodwill of the concern is in the hands of debtors because he is the person who takes our
Q. FIFO under perpetual inventory procedure? FIFO under perpetual inventory procedure in perpetual inventory procedure the ending balance in the Merchandise Inventory account r
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How can I capitalize my patents? My company has applying for a patent and I want to capitalize the research and development expenditures. I know it will cost some legal charges and
entry for bad debts provision
Q. Define purchase discounts and purchase returns? Two general deductions from purchases are (a) purchase discounts and (b) purchase returns and allowances. In the general ledg
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