which accounting concept this?, Accounting Basics

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All relevant information and explanations about a business have been included in its financial reports

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Explain cash flow statement, Explain:- 1. Why would users want to see cash ...

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

Explain about stockholders equity, Q. Explain about Stockholders equity? ...

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, What is ACOUNTS RECEIVABLE LEDGER Bu...

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

Show tax benefits of lifo, Q. Show Tax benefits of LIFO? Tax benefits o...

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

What do you mean by salaries, Q. What do you mean by Salaries? The reco...

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, Split common stock 4 to 1 and reduce...

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, At the end of the current year, $19,900 of ...

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

Inflation budget, An inflated budgeted expense account

An inflated budgeted expense account

Explain cash basis of accounting, Q. Explain cash basis of accounting? ...

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, The use of ledger accounts A journal entry ...

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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