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Explain:- 1. Why would users want to see cash flows broken out into three parts (operating, investing, and financing)? What's the purpose of this structure? 2. Companies often use
Q. Explain about Stockholders equity? Stockholders' equity demonstrates the owners' interest in the business. This interest is equivalent to the amount contributed plus the inc
What is ACOUNTS RECEIVABLE LEDGER Businesses have several customers and individual businesses aren't assigned an account number they are just in alphabetical order. Accounts
Q. Show Tax benefits of LIFO? Tax benefits of LIFO The LIFO method outcomes in the lowest taxable income and thus the lowest income taxes when prices are rising. The Internal R
Q. What do you mean by Salaries? The recording of the payment of employee salaries typically involves a debit to an expense account and a credit to Cash. But for a company pays
Split common stock 4 to 1 and reduced PAR from $80 to $20. After the split there were 600,000 shares.
At the end of the current year, $19,900 of fees have been earned but not billed to clients. • a. What is the adjustment to record the accrued fees? Indicate each account affecte
An inflated budgeted expense account
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
The use of ledger accounts A journal entry is similar to a set of instructions. The execution of these instructions is known as posting. Since stated earlier posting is recordi
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