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Q. Steps used in retail inventory method? The retail inventory method approximation the cost of the ending inventory by applying a cost/retail price ratio to ending inventory s
Q. Dependability of information? Additionally to being relevant information must be reliable to be useful. Information has reliability when it faithfully describes for users wh
Q. Specific identification method of inventory? Specific identification- The specific identification method of inventory costing put together the actual cost to an identifiable
transactions can be even directly entered to the ledger elaborate and explain why journal is necessary
On January 1, 2012, Lexmark Company's Accounts receivable account had a debit balance of $10,000. During January, 2012, the company billed customers for services in the amount of
The balance sheet account as of July 31, 1995 for altona company are as follows: Capital: (fix lib) 35,630 Office Equipment (ass) 16730 Delivery Truck
Determine about the revenue section Revenue section provides a figure for net sales, which is balance of the Sales account, less the balances of contra sales accounts. (Sales -
Q. Show Unearned revenues? Unearned revenues- revenues received in advance consequence when a company receives payment for goods or services before earning the revenue such as
Q. Income statements - Service and merchandising company? We evaluate the main divisions of an income statement for a service company with those for a merchandising company. To
Gracie invested P12000 cash in the business.
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