What is purchasing order?What is vendor?What is sarbanes-oxley act?what is debit and credit note?What is basic accounting principles?what is dual aspect concept?what is depreciation? and how many types and details?what is cash flow and funds flow?what is capital gain?
If i have paid for something why cant i expense the entire amount on the income statement?why do we need to make an adjustment to the insurance policy at the end of the year? wouldn't it have easier to record the entire balance as an expense in November when the policy was ?purchased?why do I need to take an inventory count of my supplies at the end of the year?If I receive the Hydro bill on August 5th, why don't we record the transaction for the next fiscal period rather then include
What is the difference between the periodic and perpetual method, How will you record it your book?
Latest Answer : I am not sure in what context the user is asking but periodic and perpetual are two methods used for inventory control. Periodic inventory is undertaken more commonly to calculate the value of actual inventory of goods for the purpose of closing ...
Why depreciation is not charged on land?
Latest Answer : Land is appreciated rather than deprecited. ...
Volume of trade in a company over past four days has been 3431, 4532, 2789, and 5467. Find out the rate of changes day to day.
Latest Answer : Again an arithmetics question.1st day 34312nd day 4532 = ((4532-3431)*100/3431) = 32.08977 % change3rd day 2789 = (2789-4532)*100/4532 = -38.4598 % change4th day 5467 = (5467-2789)*100/2789 = 96.02008 % changeIs this what you are asking for? ...
Seema Automobiles Ltd., purchesed a machine for Rs. 60,000 on 1st july, 1988. On 1st january, 1989 company purchesed an additional machine costing Rs 20,000. On 31st december, 1990 the machinery purchesed
Latest Answer : Only transfer Payment ...
When inventory prices are declining the, FIFO method will generally yield a gross profit that is:A Less than the LIFO methodB Equal to the average cost methodC The same as that from any other costing methodD
Latest Answer : Answer is A
Gross profit is less than LIFO method. ...
If a company change its depreciation method from Straight line method to another method than what will be the impact for the difference?
What is the treatment of Depreciation on Gift Items?
An audit trail allows an individual to track a transaction from the journal entry to the general ledger through to the financial statements. The audit trail can also find all the transactions that comprise