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Before you begin: It's important for testing and exams to make sure you not only answer questions correctly but also completed them at the right speed.
Before you begin: It's important when preparing for tests and exams to make sure you not only answer questions correctly but also do so at the right speed.
Before you begin: For testing and exams it's important to make sure you not only answer questions correctly but also complete them at the right speed.
Question:What is the meaning of capital structure? Answer:The term capital structure refers to the structure or combination of capital (owner's equity)
Before you begin: For purposes of testing and exams it's important to make sure you not only get the questions right but are completing them at the right
Question:Paid $12,500 for a car which cost $20,000 with the garage accepting $7,500 in part exchange. The old car cost $22,000 and had depreciated by $5,000.
Q: Give at least 5 examples of fifo in general life? A: There are many real-life examples of products that are more suited for a FIFO (First-In-First-Out)
Q: Owner's equity is also known as _____________? A: There are a few synonyms for owner's equity. As you will see in the comments at the bottom of the
Q: How do you account for estimated expenses in the accounting equation? For example: Estimated supplies used for 6 months R700. (R = Rands = South African
Q: What is the best way to study accounting? A: I actually published an article on this subject a while back in one of our old newsletters. Here it is
Q: The financial statements must be prepared in a particular order. Which statements are prepared first, second, and third? What is their chronological
Full accounting questions and answers for you to practice for free. Great preparation for a test or exam. Journal entries, T-accounts, the trial balance and the financial statements. With full solutions and detailed explanations.
Q: I bought a business warehouse. How do I classify this asset if I paid the full amount with a cashier's check? A: This is a pretty simple transaction
An explanation of what a bank reconciliation is as well as the typical process involved.
Q: I want to ask how do you calculate opening work in progress inventory and closing work in progress inventory... and whether this calculation should
Q: 1. How do I determine the effectiveness of the internal control system with regards to debtors? 2. What are the strategies that I can implement to
Q: I was solving an exercise of control accounts in which one of the transactions given was this: Credit balance in purchases ledger transferred from
Q: Which accounts are affected in each of the following transactions? April 3 Purchased office supplies on account, $300. April 4 Received prepayment
Here are a few great resources I found on cheap college books, including renting and selling back your textbooks.
Q: What are the journal entries for the following: 1) Received gift of Rs 51,000 from father-in-law by check, which is deposited into business bank account.
Q: I want to know how do you make the following journal entries (rs = Rupees = Indian currency): 1. Outstanding expense - rs 3,000 2. Accrued interest
Q: Prepare the journal entries for the following credit card sales transactions (the company uses the perpetual inventory system): Sold $3,000 of merchandise
Q:Owner invested PHp (Philippine Pesos) 500,000 cash along with computer equipment that had a market value of php. 120,000 two years ago but was now worth
Deciding on a college where you'll study accounting can be a bit scary. Use our search tools here to find accounting colleges and classes across the US.
Q: What is a folio? A: It's a cross-referencing code, usually a number or a few numbers and letters. It connects two separate records, such as connecting
Why would tax accountants prefer to use last-in-first-out method?
If the income statement covered a six month period ending on November 30, 2010, the third line of the income statement would read: A. Month ended November
There was an opening balance of 100 units which had a value of #3900. Bought: may 100units @ #41, june 200units @ #50, august 400units @ #51.875, sold:
Enter the unadjusted trial balance onto a work sheet and close off the temporary accounts (income, expenses, drawings, etc.), leaving only the permanent
Q:Which one of the following alternatives represents the side and general ledger account to which the total of the discount column in the cash payments
Q: What type of ledgers are there? A: 3 ledgers: - General Ledger - Debtor's Ledger - Creditor's Ledger
Q: Is perpetual inventory write-offs done on quarterly basis a healthy practice or not? A: Depends on what the inventory is. If it is a product that goes