Let me know why we debit expenses and credit revenues

3 Answers  

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If a software is being purchased which can be used at its own for the purpose of implementation of computerisation of various customer accounting system. then what will be the treatment for the same in accounts ??? whether it will be considered as intangible assets or inventory?

1 Answers  

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What is accounts payable?

0 Answers   GMC,

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At Present Situation in sensex market is low, It converts the whole human being life into the depth. When and how it will change? Is it possible?

0 Answers  

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Mr. X buys an asset of Rs. 1000/- in cash and with it get an free gold coin what is the general entry for this?

0 Answers  

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is depreciation a expense for company?why it is charged to p/l a/c?

6 Answers  

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Can you please help me calculate the pre tax profit for credit card for 2014 using the following Assumptions. Request you to list the steps used. Charges Late fee £12 per occurrence Over limit fee £10 per occurrence Cash fees 3% of cash withdrawal value Annual Fee £25 per account, per year Interchange 1% of transaction value KPIs Accounts overdue 10% per month Accounts over limit 15% per month Average APR 30% Balances revolving 90% of balance Average balance £900 at end of 2013 Expected growth in average balance (2014) 10% per annum Assumptions Open accounts 200,000 at 2013 year-end New accounts booked 5,000 per month Annual operating cost £50 per open account Cost of Acquisition £50 per account Provision rate 9% of total balances Annual cost of funds 4% by balance Charge off Unit charge-off rate in 2014 11% of accounts at 2013 year-end Unit charge-off rate in 2014 0% of accounts booked in 2014 Post charge-off recoveries 20% of balance Account Transactions Monthly turnover 5% of total month end balances Cash advances 20% of monthly turnover Additional Assumptions Please state any additional assumptions you have made to calculate your answer Thanks in advance,

0 Answers   Elevates Infosolution,

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what are the uniform public construction cost accounting act procedures?

0 Answers  

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what is the TTD junior asst exam syllubsexam held on sep 5 th plz tell me sir

2 Answers  

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Where will Contingent liability appears? And why it is not appear in Balance sheet?

4 Answers   ACS,

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The prepaid insurance account has a debit balance of $3600 at the end of the year. If unexpired insurance at the end of the year is $2800, the amount of insurance expense that should be reported on the income statement is?

2 Answers  

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Expand ------OIL

1 Answers  

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