technology
How do you calculate steel pipe fabrication per Dia inch?
Total joints of 4″ in it = 1(pipe with flange) + 1(pipe with elbow) + 1 (it is optional – if a pipe purchased is of 6m length then you need to weld pipe t...
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Technology
technology
What journal entries are passed as regard declaration and payment of dividend?
Journal entry at the time of declaration of dividends: When dividends are declared, the retained earnings account is debited and dividends payable account...
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Is prepaid interest is current asset?
Interest expenses may be recorded on the balance sheet as current liabilities before they are expensed. Also, this expense can be recorded on the balance ...
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Where does provision for bad debts go in the income statement?
If Provision for Doubtful Debts is the name of the account used for recording the current period’s expense associated with the losses from normal credit s...
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How can you assess the quality of accounts receivable?
One simple method of measuring the quality of accounts receivables is with the accounts receivable-to-sales ratio. The ratio is calculated as accounts rec...
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Why income received in advance is credited?
Definition of Income Received in Advance The credit to the liability account is made because the company has not yet earned the money and the company has ...
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Can dividend be paid out of current profit without making good past losses?
A company shall not declare dividend unless carried over previous losses and depreciation not provided in previous years are set off against profit of the...
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What are remittance services?
Follow. Remittance is derived from the word ‘remit’ which means ‘to send back’. Remittance refers to money that is sent or transferred to another party, u...
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Where is allowance for doubtful accounts on balance sheet?
assets section Doubtful accounts are an asset. The amount is reflected on a company’s balance sheet as “Allowance For Doubtful Accounts”, in the assets se...
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Is interest received in advance an asset?
Advance payments are recorded as assets on a company’s balance sheet. As these are expensed, they are recorded on the income statement for the period incu...
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