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Q. What is the use of balance sheet?
Balance sheet -- a statement of the financial position of a company at a single specific time(often at the close of business on last day of the month, quarter or year.) Balancesheet generally lists all assets on the left side or top whereas liabilities and capital are listed onthe right side or bottom. Total of all numbers on the left side or top should equal orbalance the total of all numbers on the right side or bottom. A balance sheet balancesaccording to this equation: Assets = Liabilities + Capital.
paid rent $200 by cash
1. Double declining method 2. Units of production method 3. Sum of year digit method 4. Straight-line method Depreciation Fund Method Insurance Method Annualy Method
Q. Learning objectives of Accounting theory? - Discuss and Identify the underlying assumptions or else concepts of accounting. - Discuss and Identify the main principles of
Ask question Discuss the export financing under the deferred payment system.#Minimum 100 words accepted#
Q. What is credit balance? If on the other side the sum of the credits exceeds the sum of the debits the account has a credit balance. For example assume that a company has an
When does something that is a debit becomes a credit?
After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $673,400, and Allowance for Doubtful Accounts has a balance of $11,90
Fundamental of Accounting 1. Explain the concept of accrued income with the help of an example. 2. Explain the five disadvantages of Single Entry System? 3. Explain the s
Q. Example of supplies on hand? On 2010 December 4 Micro Train Company buy supplies for USD 1400 and recorded the transaction as follows Micro Train's two accounts reci
One or more phases in the operation cannot supply all the items it makes concurrently.
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