ow to do a P&L statement

Q: Describe the basic assumptions of accounting.

A: Accounting is a systematic process of identifying, recording, measuring, classifying, verifying,…

Q: Identify each of the following terms or phrases as an accounting (a) principle, (b) assumption,…

A: Accounting Principle - Every business entity i.e. proprietorship, partnership and company have to…

Q: What is tally accounting?

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Define T- account.

A: Transaction:   It is an economic event that is recorded in the accounting system of an organisation.…

Q: cial/accounting information in terms of ALSE

A: The given statement is FALSE .

Q: Kindly explain the swot analysis of LBC express

A: LBC Express is the company that build their own platform of mobile and also offer the on demand…

Q: Basic purpose of accounting

A: There are two basic purpose of Accounting they are 1. Ascertaining Financial results (Profit ans…

Q: what is a t account

A: Accounting is the art of classifying, recording, summarizing, and interpreting the financial…

Q: Fince/accounting

A: Bonds are converted into number of shares and these are called as convertible bonds. On MATURITY…

Q: Accounting Explne

A: The business maintains its records in the form of accounting. The business being small or larger, it…

Q: What's is the accounting equations

A: Accounting equation is considered as foundation of double entry accounting system. Accounting…

Q: how to make  accounting eqution grid?

A: Accounting equation says that total assets should always be equals to total liabilities and…

Q: e accounting treatment c

A: Option 2 is wrong because a contingent liability should be disclosed in the Notes to the Financial…

Q: Define registration statement (S-1)

A: For public organizations situated in the US, SEC Form S-1 is the underlying enrollment structure for…

Q: Briefly define accounting.

A: This question explains about accounting.

Q: Explain an example of accounting process cycle.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Set c. Com.p.ute the General Journal

A: Journal Entry The purpose of preparing the journal entry to enter the required transaction which can…

Q: Explain accounting domain with example

A: Accounting domain is the wide range of accounting including its all branches like financial…

Q: What is accounting. Write its types

A: Accounting is nothing but a method of analyzing recording and summarizing of all event which…

Q: Define accounting equation

A: Financial Accounting:   It refers to the process of recording the financial transactions of the…

Q: Define bill-and-hold arrangement with example.

A: Bill on hold: Bill on hold transaction specifies that shipping of the product is not done by the…

Q: Distinguish between statement of affairs and balance sheet.

A: Difference between Statement of Affairs and Balance Sheet: Objective of balance sheet is show…

Q: Define accounting equation

A: Financial Accounting: It refers to the process of recording the financial transactions of the…

Q: Define the term accounts.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: e balance sheet help users?

A: Option a is wrong because the true value of an entity is determined not only using the balance…

Q: Identify each of the following terms/phrases as either an accounting (a) principle, (b)…

A: Going concern:

Q: ype between owners and c

A: Honor code: Since you have asked multiple questions, we will solve the first question for you. If…

Q: Define accounting

A: One of the most important factor any business is accounting. An accountant is the one who handles…

Q: explain the relationship of fi nancial statement elements and accounts, and classify accounts into…

A: Financial statements: Financial statements are condensed summary of transactions communicated in the…

Q: Identify each of the following terms/phrases as either an accounting (a) principle, (b)…

A: Accounting principle: These are the guidelines which are to be applied while preparing the…

Q: Explain Bill-and-hold concept.

A:

Q: Explain the methods of accounting.

A: Accounting methods refers to the ways which are adopted by the company in order to record its income…

Q: w accounting standards in

A: the financial statements of a company are expected to present a true and fair view on the financial…

Q: For each transaction indicate whether it should:

A: Note: Since you have posted a question with multiple sub-parts, we will solve the first three…

Q: t and balance sheet info

A: Return on Assets determined by Net income and Average of Total assets. Net income can be found at…

Q: Accounting princippls

A: The accounting is a process to identify the business transactions and record the transactions and…

Q: Hypothetically discuss Assumptions of Accounting.

A: The organization and operation of a business are defined by key accounting assumptions. They…

Q: Define accounting cycle

A: Accounting: It can be defined as the process of summarizing and recording the financial events and…

Q: quation

A: As far as formulas go, the accounting equation is simply stated as: Assets = Liabilities + Owners…

Q: anagerial Accounting uditing ost Accounting

A: a) An activity that provides financial and non-financial information to managers and other internal…

Q: Explain accounting process cycle.

A: Accounting Cycle: The accounting cycle refers to the process of recording a business transaction in…

Q: Which of the following is true?a. FASB creates SEC.b. GAAP creates FASB.c. SEC creates CPA.d. FASB…

A:

Q: What’s accounting

A: The accounting is the main part of every business.