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Provide answer to question 8.6a in business accounting volume 1-10th edition by frank wood Alan sangster?
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∙ 10y ago
F. Flint is starting a business. Before actually starting to sell anything, he bought fixtures for
£1,200, a van for £6,000 and an inventory of goods for £2,800. Although he has paid in full for the
fixtures and the van, he still owes £1,600 for some of the inventory. B. Rub lent him £2,500. After the above, Flint has £200 in the business bank account and £175 cash in hand. You are required to calculate his capital.
Wiki User
∙ 10y ago
ALLIRE DAVIS
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How does the cost accounting function assist in the management of a business?
the function of cost accounting is to provide management of differents acitivities in a business
What accounting concept or principle provide guidance related to separate personal account with business account?
the accounting concept that separate the personal account from the business account is business separate entity concept
Two common areas of accounting that respectively provide information to internal and external users are?
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The purpose of accounting information is to provide financial data that will serve as a basis for future decisions. This information is commonly used by business owners and shareholders.
Where can one purchase small business accounting software?
Small business accounting software can be purchased from many retailers such as NCH Software, Staples, Office Max, and New Egg. Some banks and credit unions will provide this software free to their business customers.
How does the cost accounting function assist in the management of a business?
the function of cost accounting is to provide management of differents acitivities in a business
What accounting concept or principle provide guidance related to separate personal account with business account?
the accounting concept that separate the personal account from the business account is business separate entity concept
How would you describe an accounting statement?
Accounting statements provide financial details concerning the operation of a business or other form of organization.
Two common areas of accounting that respectively provide information to internal and external users are?
Internal users with information are managerial accounting is to provide relevant and timely information for managers' and employees' decision-making needs. (private accounting) External users of accounting information include customers, creditors, and the government. These users are not directly involved in managing and operating the business are call financial accounting. Their job is to provide relevant and timely information for decision-making needs of users outside of the business. 1. managerial accounting and financial accounting
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Principles of Accounting provides free comprehension of textbooks. They provide free financial account textbooks and workbooks that you can order and study for your business.
What are the purposes of accounting information?
The purpose of accounting information is to provide financial data that will serve as a basis for future decisions. This information is commonly used by business owners and shareholders.
Where can one purchase small business accounting software?
Small business accounting software can be purchased from many retailers such as NCH Software, Staples, Office Max, and New Egg. Some banks and credit unions will provide this software free to their business customers.
How accounting provide relevant data?
Accounting provides the business with data such as debt, growth of the company and the effect of added investment. Accounting data can allow the decision makers in a company to make decisions that will not endanger the financial direction of the company.
How does accounting benefit a business?
1. Accounting helps to manage the financial records of a business in an organized manner 2. Financial transactions can be retrieved easily 3. Profit and loss can be tracked in a simpler way 4. Provide accurate information to investors, bankers and other business authorities
How does accounting provide relevant data to users?
Accounting is a way to provide a systematic data about any company's statements and expenses. due to its consecutive and systematic entries it provides a relevant data. Internal users need to understand accounting data in order to measure the economic performance of businesses and to make business decisions
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Accounting is a service function?
within an organization that involves recording, analyzing, and reporting financial transactions and information. It helps in decision-making, monitoring financial performance, and ensuring compliance with regulations. Accounting provides valuable information for management, investors, and other stakeholders to make informed decisions and assess the financial health of the business.
