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IPO means Intial Pubic Offer. When ever company starts
company will offer some shares to public it is called IPO..
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Explain financial accounting.
How Can We Differ Horizental & Vertical Balace Sheet? Explain.
Please would you provide me with a defenition of Cycle count tolerance ? Thank you
Under what type of account do the unearned revenues fall?
What is entry of Dishonored cheque issued to supplier
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if we have provision for bad debts and RDD then on which amount we have to calculate RDD original or deducted?
A firm had the following Balances on 1 January 1994: (i) Provision for bad and doubtful debts Rs 2,500 (ii) Provision for discounts on debtors Rs 1,200 (iii) Provision for discounts on creditors Rs 1,000 During the year, bad debts amounted to Rs 2,000, discounts allowed were Rs 100 and discounts received were Rs 200. During 1995 bad debts amounting to Rs l,000 were written off while discounts allowed and received were Rs 2,000 and Rs 5,000 respectively. Total debtors on 31 December, 1995 were Rs 48,000 before writing off bad debts, but after allowing discounts. On 31 December, 1995, this amount was Rs 19,000 after writing off the bad debts, but before allowing discounts. Total creditors on these two dates were Rs 20,000 and Rs 25,000 respectively. It is the firm’s policy to maintain a provision of 5% against bad and doubtful debts and 2% for discount on debtors and a provisions of 3% for discount on creditors. Show the accounts relating to provisions on debtors and provisions on creditors for the year 1994 and 1995.
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Tell me do you possess any knowledge about accounting standards?
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