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Q. What is Sales revenues?
The sale of goods takes place between two parties. The seller of the merchandise transfers them to the buyer in exchange for cash or a promise to pay at a later date. This exchange is a relatively easy business transaction. Sellers make sales to create revenues this inflow of assets in the form of cash or accounts receivable results from selling goods to customers.
State about the Cash payments journal A special journal used to record any payment of cash. There would be a check number given to be recorded in journal as well. Source docume
What is Purchase Returns?
the meaning of dual concept
One of the companies for which you provide accounting services offers office cleaning services and has 8 customers. Cleaning services are provided in the evenings, Sunday throu
Q. What do you mean by Net sales? We demonstrate a condensed income statement to emphasize its major divisions. Next, we explain the more complete income statement actually pre
The beginning capital of the business totals $4,000. If the net income for the period totals $14,000 and the withdrawals by the owner total $3,000, what will be the new capital b
Fund flow deals with transaction within financial year (One year) while Cash flow Statement record only the cash transaction.
Dogwood florist opened a business January 1st 2010. During 2010, they had the following transactions and economic events. For each of the transactions and economic events prepare
Q. Change in accounting method for inventory? Occasionally companies vary inventory methods in spite of the principle of consistency. Improved financial reporting is the merely
Liquid Extracts Company makes a line of fruit extracts for home use in making wine, jams and jellies, pies and meat sauces. Fruits enter the production process in pounds; the prod
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