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The cost of goods sold section
Cost of merchandise sold to customers during a period is subtracted from net sales figure for the same period to get amount of gross profit. (Net Sales - cost of goods sold = Gross profit)
You need both beginning and ending merchandise inventory figures and net purchases for period. (Purchases Returns and Purchases Discounts and Allowances decrease cost of Purchases.)
What is the full disclosure principle
Describe what journal entry pass in case of vat refundable and in case of vat payable? Ans) In case of vat payable: output vat Toinput vat To vat payable In case o
Business transactions and the accounting equation A transaction is any activity which changes the value of a firm's assets, liabilities or owner's equity. Every transaction
In Excel, I need help with formulas
Home Inc. is considering buying a new piece of equipment, which will cost $715,000 and has an economic life of 5 years, in order to make a new line of product. The company believe
need help for 1 question
Q. What is FOB shipping point? FOB shipping point signifies free on board at shipping point. The buyer acquires all transportation costs after the merchandise has been loaded o
My company has done a down payment on inventory ,then manufacturer will ship this order between 30 to 60 days after original payment and the balance is due 60 days once the order g
A rule in economics and law that says attorney fees must be paid by every party included in litigation - even the party that wins the case. An exception to the American rule can ta
Explain the term- Salaries Expense and payment The Accounting Entry for Employee Earnings and Deductions Employer is the "agent" who is responsible for withholding the a
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