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A: Journal Entry :— It's an act of recording transactions in publications of account when transaction…
A: Working capital is calculated as the distinction between present-day belongings and present liabilities.The…
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A: Journal entry : Way of recording financial transactions while in the ebook of first entry by debiting…
Quite a few corporations estimate tax liability and make payments All year long (often quarterly). When an organization overestimates its tax legal responsibility, this results in the organization paying out a prepaid tax. Prepaid taxes will likely be reversed inside one 12 months but can lead to pay as you go belongings and liabilities.
A: The follow of measuring industrial transactions for 1st time from the textbooks of accounts is understood…
Economic accounting is one of the branches of accounting by which the transactions arising within the enterprise above a particular period are recorded.
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A: According to the accounting equation, a corporation's complete belongings equal the sum of its liabilities and…
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Secured bank loan – This is a loan the place the borrower will pledge his asset like a automobile or house which can be marketed if he is not able to pay back again the loan.