Financial Statements

Suspense account is created to record all those transactions which have some information missing either of debit part of transaction or credit part of transaction until at later stage more clear information is available about transactions.

Bank a/c ... Dr

To cash a/c Cr

DR DIRCTOR FEES

CR Bank / ACCRUALS

Not right away. When you record unearned fees or revenue it only hits the balance sheet.

Ex: Debit- Cash or AR (Asset Account)

Credit- Unearned Revenue (Liability)

It is a liability until the revenue is earned in which case you then

Debit: Unearned Revenue

Credit: Revenue/Sales Account (finally and income statement account!)

yes

Issuance of debendutres is not an operating activity that's why interest on debenture is also a non operating expense

your big head

to control the finance activitiies

Export benefit needs to be added in the net income

This is the statement of the asset and liabilities of entity at a given point of a time.

Occupational Fraud

As photocopier cartridge is assumed to be fully utilized in one fiscal year and it also not have very high value that's why it is considered as revenue expenditure.

Balance Sheet!!maybe some kind of balance that have deposite.and it current only...

It's always "a" when it is before a word that does not start with a letter that is a vowel or sounds like a vowel. Therefore, the correct grammar is "a historical background." Actually, the above is...The historical background of the gospels was first century Palestine, under direct or indirect rule of the Roman Empire. The gospels tell us that Jesus was crucified during the governorship of.

Well atlualcy there isn't really a way to skip the downloads, but don't worry if it's just java it won't crash your computer promise me

If repair improves the performance of fixed assets and massive improvement then it is part of fixed assets otherwise revenue expense.

debit accounts receivable
credit sales revenue

Net income

financial analysis includes

Common stock is a liability account in nature and it is the amount which is payable by business back to it's owners that's why it is shown in balance sheet and not in income statement.

Stmt.

the letter of credit is not shown in the balance sheet, since it's a contingent commitment but it should be disclosed in a separate note

It depends on why you are using the financial statements. What do you want to know? How is the company using their cash? Look at the Statement of Cash Flows. Liquidity ratios, amount of debt, kinds of assets... look at the Balance Sheet. What are they selling, where do the revenues come from, what does the product cost or what other expenses do they have, what kind of profits do they have... look at the Income Statement. Ideally, all are important. Income is fine, but if it is all paper income (non-cash), there may be cash flow problems in the near future--thus the importance of looking at the cash flow statement. Income is great, but if liabilities are too high, the income may not be adequate to service the debt in the long term--thus the importance of looking at the balance sheet. Statement of changes in equity, of course, to see if there is anything significant other than income, or perhaps dividends.

buyer's a/c dr. amount

to sales a/c amount

To find the percentage of the cost of the goods againt the actual sales is basically finding the profit. Therefore you will take the totals of the products sales and minus the cost of the product when you bought these in. The difference is gross profit minus any of the over heads of running the business). Then you this figure by the totals sales. i.e. 1000(total sales) - 500(cost of materials) = 500. 500/total sales (1000)x100 = 50%

The avergae cost of goods sold in the first your is calculated by the total cost of materials / 12 (months) will give you an average. i.e. cost of materials was 500 / 12 = 41.66