world affairs
Which book is both journal and ledger?
cash book A cash book serves the purpose of both the journal and ledger, whereas a cash account is structured like a ledger. Is cash book a journal or a l...
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World Affairs
world affairs
Where is treasury stock reported in the financial statements?
shareholder’s equity section Treasury stock is a contra equity account recorded in the shareholder’s equity section of the balance sheet. Because treasury...
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world affairs
What is the purpose of a revenue account?
Record incoming money from main business operations in your Revenues/Sales account. This is an account that lists your operating revenue. Some businesses ...
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world affairs
What is the basis for recording the value of the non-cash assets contributed to the partnership?
Non-cash assets such as equipment and prepaid expenses should be recorded at current market values. Partners are sometimes given an ownership interest bas...
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world affairs
What is Unrealised foreign exchange gain or loss?
A gain or loss is “unrealized” if the invoice has not been paid by the end of the accounting period. For example, let’s say your Home Currency is USD, and...
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world affairs
What is difference between tax and duty?
Tax is a financial obligation which is to be paid to the government compulsorily. Duty is a fee payable to the government on the manufacture and import/ex...
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world affairs
What is meant by low cost of production?
The low cost production is the production in which the farmers give less money for the production of goods and get some what production which is not relat...
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world affairs
What was the average pay in 1900?
Occupation Annual Salary 2000 $ 1900 Census Average Salary $449.80 $8,973 Unskilled Female $120 $2,394 African-American male laborer $150 $2,992 African-A...
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world affairs
What does an accountant do in real estate?
A real estate accountant manages all accounting processes for a real estate team. They handle accounts payable and accounts receivable, produce journal en...
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world affairs
How is tax shield value calculated?
The value of a tax shield is calculated as the amount of the taxable expense, multiplied by the tax rate. Thus, if the tax rate is 21% and the business ha...
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