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What is uses of Purchases journal
Purchases journal (SPECIAL JOURNAL) Used to record only credit purchases of merchandise-may be only one column which is posted to two accounts. Two accounts would be PURCHASES debit and ACCOUNTS PAYABLE credit. An invoice column is listed also.
Adjusting entries in the general journal Be sure to put down the words "Adjusting Entries" at the beginning of journal after the last entry of month. By placing these words at
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A time of 12 consecutive months used by an organization to account for and report the results of its operations.
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Limitations of Ratio Analysis : In spite of the a variety of uses of ratio analysis, it go through from certain limitations, some of which are as under; 1. Limited use
How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.
When does something that is a debit becomes a credit?
Q. Explain about perpetual inventory procedure? When discussing inventory we require clarifying whether we are referring to the physical goods on hand or the Merchandise Invent
Problem It is usually recognized that power is an essential component of accountability and that greater accountability is recognized towards those stakeholders who have more p
Q. Explain cash basis of accounting? Professionals such as lawyers and physicians and some relatively small businesses may account for their revenues and expenses on a cash bas
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