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Accounting
Q.No.1) Briefly explain the following concepts with examples.
a.)
Owners’ Equity examples include common stock and preferred stock, retained earnings, accumulated profits, general reserves and other reserves, etc. So describe the Owners’ Equity and also Distinguishing between Owners’ Equity and Owners’ Capital.
a.)
Owners’ Equity examples include common stock and preferred stock, retained earnings, accumulated profits, general reserves and other reserves, etc. So describe the Owners’ Equity and also Distinguishing between Owners’ Equity and Owners’ Capital.
Accounting
Q.No.1) Briefly explain the following concepts with examples. (Marks 04)
a.)
Financial accounting is a specialized branch of accounting that keeps track of a company's financial transactions. Using standardized guidelines, the transactions are recorded, summarized, and presented in a financial report or financial statement such as an income statement or a balance sheet. What are the main objectives of financial accounting
a.)
Financial accounting is a specialized branch of accounting that keeps track of a company's financial transactions. Using standardized guidelines, the transactions are recorded, summarized, and presented in a financial report or financial statement such as an income statement or a balance sheet. What are the main objectives of financial accounting
Accounting
Where do you enter employee paychecks?
A. The Write Checks window
B. The Salary window
C. The Liabilities window
D. The Payroll Checks window
A. The Write Checks window
B. The Salary window
C. The Liabilities window
D. The Payroll Checks window
Accounting
the equipment is expected to have a 5 year useful life and be worth about $11000 at the end of five years. Review the unjustedt balance in accumulated depreciation and prepare the necessary adjusting entry to record the monthly depreciation, if any
Accounting
How does QuickBooks make it easier to maintain your inventory?
How easy is it to make adjustments to the inventory quantity?
Do you like being able to maintain non-inventory products?
How do you feel the whole aspect works?
How easy is it to make adjustments to the inventory quantity?
Do you like being able to maintain non-inventory products?
How do you feel the whole aspect works?
Accounting
Bright Star Resort recorded the following figures for December 2019: Labour costs were
R50 000, overheads were R180 000 and the gross profit was R110 500.
2.1 Calculate the net profit that was achieved during the month.
R50 000, overheads were R180 000 and the gross profit was R110 500.
2.1 Calculate the net profit that was achieved during the month.
Accounting
Write a short note on objective and limitations of accounting
Accounting
Why differentiation is made between current liabilities and non current liabilities
Accounting
Recognise the following transaction in the accounting records(general journal).
1. The following events, as authorised by the owner on 31 december 2019,still has to be recognised:
•A loss to the amount of R66 800 resulting from the confirmation that certain inventory items' cost price is more than the net realisable value thereof.
•A donation of trade inventories to a local institution to the amount of R10 00.
1. The following events, as authorised by the owner on 31 december 2019,still has to be recognised:
•A loss to the amount of R66 800 resulting from the confirmation that certain inventory items' cost price is more than the net realisable value thereof.
•A donation of trade inventories to a local institution to the amount of R10 00.
Accounting
In which situation would QuickBooks' batch invoicing feature be most useful?
A. If your company charges a standard monthly fee for many customers
B. If your company sends various amounts of the same inventory item to different customers
C. If your company sends the same inventory item to different customers
D. If your company charges the same sales tax to many different customers
A. If your company charges a standard monthly fee for many customers
B. If your company sends various amounts of the same inventory item to different customers
C. If your company sends the same inventory item to different customers
D. If your company charges the same sales tax to many different customers
