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Check all the ledger account post the Jv in the respective accounts come out with final balance of the ledger account then start putting figures in trial balance & then prepare trading, profit & loss account & balance sheet for the respective year.
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What are aims and objectives of opening various types of bank accounts?
a report on procedure are opening vrious types of bank accounts aims and objectives
Which accounts payable procedure can be used to locate unrecorded liabilities?
Yes, Current Liabilities are liabilities that will be paid off in one year or less. Accounts payable is where you record such liabilities. If it's a payment that will be made in more than one year...accounts payable is a liability.Accounts Payable is a liabilitynone Chart of accounts is used for compiling General Ledger and financial accounts by accountants. AR and AP use aged trial balance.
What is the internal control procedure for the credit sales?
Usually, the internal control procedure for credit sales is a credit check by the seller. Other methods used for control include an aging of accounts receivable. Returning customers are judged on their ability to pay by how fast they paid in previous transactions.
What type of accounts are accounts receivable and accounts payable?
real accounts
What are the accounts title in accounting?
There are different types of accounts in accounting. Some of these accounts are asset account, liability accounts, equity accounts, and operating expense accounts. There are many titles that coincide with these accounts.
Describe procedure of maintaining accounts receivable ledger?
saidapetaiela rain
Which one of the approaches for the allowance procedure emphasizes the net realizable value of accounts receivable on the balance sheet?
Which one of the approaches for the allowance procedure emphasizes the net realizable value of accounts receivable on the balance sheet?
What are aims and objectives of opening various types of bank accounts?
a report on procedure are opening vrious types of bank accounts aims and objectives
The accounting procedure that accounts for most of the deferred income tax liability for most companies is?
depreciation expense
Which accounts payable procedure can be used to locate unrecorded liabilities?
Yes, Current Liabilities are liabilities that will be paid off in one year or less. Accounts payable is where you record such liabilities. If it's a payment that will be made in more than one year...accounts payable is a liability.Accounts Payable is a liabilitynone Chart of accounts is used for compiling General Ledger and financial accounts by accountants. AR and AP use aged trial balance.
Are revenue and expense accounts temporary?
The balances in all temporary accounts are transferred to the capital or the retained earnings account, leaving the temporary accounts with zero balances. This procedure is necessary to determine a periodic net income (or loss) and prepare books for the next period.
How long are medical accounts ordinarily carried before being referred to a collection agency?
That all depends on the original creditor and what their procedure is. Some hospitals hold on to them if you are making an acceptable monthly payment but they aren't required to. Most accounts come to our office after 3-6 months.
What is the internal control procedure for the credit sales?
Usually, the internal control procedure for credit sales is a credit check by the seller. Other methods used for control include an aging of accounts receivable. Returning customers are judged on their ability to pay by how fast they paid in previous transactions.
What is the procedure of opening various types of bank accounts?
The procedures vary from bank to bank and from a type of account to another. It is usually just dependant on your financial history and if the bank is willing to do business with you.
Can two creditors put a lien on your wages at the same time?
1) your wages may be "garnished" by a creditor through a legal procedure. 2) YES, if the garnishment procedure determines your wages are adequate to have multiple forced payments deducted (while you still can sustain a basic standard of living - reflected by the legal procedure), then you can have multiple garnishments (ie. by multiple creditors - a single creditor only would do the garnishment procedure once for multiple accounts you might have with them) against your wages.
What type of accounts are accounts receivable and accounts payable?
real accounts
Your father passed away so what do you do with his credit card accounts?
They are included in the state probate procedure. When the deceased's estate (debts and nonexempt assets) is filed with the probate court, creditors will be notified and given a specified amount of time to file a claim. A qualified attorney is usually required as probate procedure can be complicated and costly.
