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Q. What is trial balance?
The firm credits two Accounts Payable and accounts Cash in this one entry. But the dollar totals of the debits and credits are equal. Cyclically accountants use a trial balance to test the equality of their debits and credits. A trial balance is a record of the ledger accounts and their debit or credit balances to determine that debits equal credits in the recording process. The accounts show in this order 1) assets 2) liabilities 3) stockholders' equity 4) dividends 5) revenues and 6) expenses. Within the assets group the most liquid (closest to becoming cash) asset appears first and the least liquid appears last. Inside the liabilities those liabilities with the shortest maturities appear first. Revise Exhibit 13 the trial balance for Micro Train Company. Note the catalogue of the account numbers and account titles on the left the column for debit balances the column for credit balances and the equality of the two totals.
what is Accounts payable process?
Your report must include at a minimum the following items. 1. Calculate the following ratios based on the 2011 financial statement: * Current ratio * Quick ratio * Total asset
need to get assignment done, its corporate accounting.
Woodie Limited issues $5 million in convertible bonds on 1 July 2012. They are issued at the fair value and pay an interest rate of 4 percent. The interest is paid at the end of ea
want a question of general jouranal , t account ,traial balance , income statement and balance sheet
Ratio Analysis : A 'Ratio' is clear as an arithmetical/quantitative/ numerical relationship between two numbers. Ratio analysis is a extremely significant and age old method of f
Q. What is Variable cost? Variable cost -- a cost which changes as production or sales change. If a business is producingnothing and selling nothing, variable cost must be zero
Q. Importance of proper inventory valuation? A merchandising company is able to prepare accurate statements of retained earnings, income statements and balance sheets only if i
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.”
I need the answers to the following questions in Quickbooks 2012, 1-write dividend checks, 2- sell fixed assets, 3-update the asset tracking report, 4-pay sales taxes and payrol
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