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What else can I help you with?
When and why profit and loss account is dr?
Normally you'd expect it to be CR as it's an accumulation of profit over the years. However, dividends (drawings if not a company) will reduce the profit and loss account. Combine that with a few years worth of losses and it can easily become a DR balance.
Who can tax income without apportionment among states?
Congress can tax income without apportionment among states
What is word debit credit?
As for as the meanings of debit and credit is concerned, in accounting it has no specific meanings. Rauther they reflect the situation as follows Debit is a situation where assets, expenses, drawings and losses are increased OR Liabilities, capital , revenue or profit are decreased. Credit is a situation when assets, expenses, drawings and losses are decreased OR Liabilities, capital , revenue or profit is increased. the above statement can be mentined as folows. __________________________________________ Dr. Cr. ------------------------------------------------------------------- Assets Expense Drawings + (-) Losses Capital Liabilities (-) + ___________________________________________ submitted by nadeemlatifkhan.com Nadeem Latif Khan, SIalkot. PAkistan Revenue Profits
What is the difference between an expense and a drawing in accounting?
An expense is the term given to those business costs which are day to day running costs such as rent, heat and light, insurance, wages, etc - sometimes known as overheads. Expenses are deducted from gross profit in the the profit and loss account Drawings is the term given to money withdrawn from the business for the owners personal use - NOT the same as wages however, because the owner is NOT an employee of the business and they can take as much or as little in way of drawings as they wish. Drawings are deducted from the owners capital in the balance sheet
What is the difference between overhead allocation with overhead apportionment?
The following are the differences between allocation and apportionment. 1. Allocation costs are directly allocated to cost centre. Overhead which cannot be directly allocated are apportioned on some suitable basis. 2. Allocation allots whole amount of cost to cost centre or cost unit where as apportionment allots part of cost to cost centre or cost unit. 3. No basis required for allocation. Apportionment is made on the basis of area, assets value, number of workers etc.
The process of allocating congressional seats among the fifty states is called?
Apportionment
What is the relationship between apportionment and gerrymandering?
The resulting district apportionment is known as a gerrymander. Gerrymandering is another term for apportionment. (might wanna research this one. idk.)
How do use the word apportionment in a sentence?
The apportionment of seats in the senate was not fair to some parties.
What would be the effect on the profit of an accounting period if a drawing of 100 was accounted for as an expense by mistake?
If drawings are shown as expenses then it will reduce the current year's profit while it will overstated the capital of company as well.
What is an apportionment?
An apportionment is an act of apportioning or a state of being apportioned.An apportionment is an act of apportioning or a state of being apportioned.
What is the origin of the term apportionment?
The legal term apportionment is derived from the Latin "portio" which means distribution or allotment in proper shares. Apportionment is a term used in law in a variety of senses.
When and why profit and loss account is dr?
Normally you'd expect it to be CR as it's an accumulation of profit over the years. However, dividends (drawings if not a company) will reduce the profit and loss account. Combine that with a few years worth of losses and it can easily become a DR balance.
What is the process of dividing the number of Representative up amongst the states called?
It's called apportionment or to apportion.
Who can tax income without apportionment among states?
Congress can tax income without apportionment among states
What is reapportioment?
reallotment: a new apportionment (especially a new apportionment of congressional seats in the United States on the basis of census
What is word debit credit?
As for as the meanings of debit and credit is concerned, in accounting it has no specific meanings. Rauther they reflect the situation as follows Debit is a situation where assets, expenses, drawings and losses are increased OR Liabilities, capital , revenue or profit are decreased. Credit is a situation when assets, expenses, drawings and losses are decreased OR Liabilities, capital , revenue or profit is increased. the above statement can be mentined as folows. __________________________________________ Dr. Cr. ------------------------------------------------------------------- Assets Expense Drawings + (-) Losses Capital Liabilities (-) + ___________________________________________ submitted by nadeemlatifkhan.com Nadeem Latif Khan, SIalkot. PAkistan Revenue Profits
How often do apportionment and redistricting occur?
10years
