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s a contractual agreement between a LESSEE and a Lessor over a given period.The main DIFFERENCE between a Hire Purchase Agreement and a LEASE, is that with a Lease, ownership of the goods will always be with the FINANCE provide

a picture MADE with a PENCIL, PEN, ETC. but not PAINT

tion:a) when the OWNER brings the money to start a new business then he brings that money is KNOWN as capitalb) when the income is received C) The transactions which are DONE for the business purpose are called business transactions.d) when the goods are used for personal use is known as drawings.......PLEASE mark it as brain list

Guarantee means the surety of a particular amount of PROFITS by one or more partners and in some cases by the firm, where the burden of guarantee is BORNE by the party providing such a guarantee. In other words, it is a minimum fixed amount for the partner who is given such a guarantee.If the actual share in profits is less than the GUARANTEED amount then the deficit amount shall be borne EITHER by the firm or by any partner as the case may be. There are many ‘ADJUSTMENTS’ which a firm will do in such a case. If the actual share in profits is more than the minimum guarantee amount then the firm will provide the actual profits to the partner.

For FIXED CAPITAL partners will always have credit BALANCE in their capital accounts. For fluctuating capital, partners can have EITHER debit or credit balance of their capital accounts. I HOPE it helps :)

l users are PEOPLE within a business organization who USE financial INFORMATION. Examples of internal users are owners, managers, and employees. EXTERNAL users are people outside the business entity (organization) who use ACCOUNTING information.

tion:An accounting event is a transaction that is recognized in the financial STATEMENTS of an accounting ENTITY. A company must record in its accounting records any economic event that impacts the company's finances. Examples of accounting events include such things as recording the depreciation of an asset, the payment of DIVIDENDS to INVESTORS, the purchase of materials from a supplier, and the sale of GOODS to a customer.

Examples of ACCOUNTING include such THINGS as recording, payment,purchasing of MATERIALS from SELLERS. PLEASE MAKE IT BRAINLIEST ANSWER

ks me as brainliestA customer order usually in the form of a purchase order initiates the sales processDistinguish between a packing slip, a shipping notice, and a bill of lading.The packing slip travels with the goods to the customer, and it describes the contents on the order. Upon filling the order, the shipping department sends the shipping notice to the billing department to notify them that the order has been filled and shipped. The shipping notice contains additional information that the packing slip may not contain, such as shipment date and carrier and freight charges. The bill of lading is a formal contract between the seller and the transportation carrier; it SHOWS legal ownership and responsibility for assets in transit.What function does the receiving department serve in the revenue cycle?The receiving department counts and inspects items that are returned by customers. The receiving department prepares a return slip, copies of which go to the warehouse for restocking, and to the sales order department so that a credit memo can be issued to the customer.The general ledger CLERK receives summary data from which which departments? What form of summary data?The general ledger clerk receives a total of all sales from the billing department in the form of a summary journal voucher. The accounts receivable department sends an ACCOUNT summary of the individual accounts receivable so that the accounts receivable control account can be verified against the accounts receivable ledger. The inventory control department sends summary information in the form of a journal voucher that reflects the total reductions of inventory in financial terms and the associated charges to cost of goods sold.What are three authorization controls?a. credit checksb. returns policy for granting cash refunds and credits, andc. cash prelists providing verification that customer CHECKS and remittance advices match in amount.What are the three rules that ensure that no single employee or department processes a transaction in its entirety?The three rules that ensure segregation of functions are:a. Transaction authorization should be separate from transaction processing.b. Asset custody should be separate from asset record keeping.c. The organization structure should be such that the perpetration of a fraud requires collusion between two or more individuals.At which points in the revenue cycle are independent verification controls necessary?a. Shipping department—verifies that the correct amount and types of goods are sent from the warehouse by reconciling the stock release document and the packing slip.b. Billing department—reconciles the shipping notice with the invoice to ensure that customers are appropriately billed.c. GL clerks—reconcile journal vouchers from various departments such as the billing department, the accounts receivable department, and inventory controlWhat is the purpose of physical controls?The purpose of physical controls is to control the actions of people.How can we prevent inventory from being reordered automatically each time the system detects a low inventory level?once an item is on order, control should be in place to ensure that it is not ordered again until the original order has been received from the supplier. One method of accomplishing this is to "flag" the inventory item "on order" by entering a value (e.g., the number of items ordered) in the on-order field of the inventory record. This field has a value of zero when the item in question is not on order.Distinguish between an edit run, a sort run, and an UPDATE run.An edit run is the first run; it detects most data entry errors. Only "clean" data progresses to the sort run. The sort run sequences the transaction records according to its primary key field and possibly a secondary key field. Once the data is sorted, the update program posts the transactions to the appropriate corresponding records in the master file. During a sequential update, each record is copied from the original master file to the new master file regardless of whether the balance is affectedWhat are the key features of a POS system?A point of sale system immediately records both cash and credit transactions and inventory information. The sales journal, accounts receivable, and inventory accounts may be updated in real-time, or a transaction file may be used to later update a master file.

Balance as per cash BOOK = Rs.1520/-Explanation:Balance as per bank Pass book                                                      Rs.1565Add:CHEQUES Deposited not creditedA 515 + B 1250                = 1765 Bank Charges           =   35.00                +1800LessCheques Issued Not PRESENTED for paymentx  600 + y  384          = 984.00Interest credited by bank  = 45Direct Deposit by Z         =  816                 -1845Balance as per cash book             1565+1800-1845                                                                           = 1520

The elements of cost are those elements which constitute the cost of manufacture of a product. ... In a manufacturing organization, we convert raw MATERIALS into a finished product with the HELP of labor and other SERVICES. These services are Material, Labour and ExpensesExplanation:and please mark as BRILLIANT

ce: INFORMATION makes a difference in decision making. RELIABILITY: information is verifiable, factual, and neutral. Comparability: information can be used to compare different entities. CONSISTENCY: information is CONSISTENTLY presented from year to year.

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tion:POINT 1 trade discount is not recorded in BOOKS of accountscash discount is recorded in books of accountspoint 2 trade discount is given on catalogue pricecash discount is given on invoice pricepoint 3 trade discount is given on CASH PAYMENT and CREDIT payments tocash discount is given on only cash paymentpoint 4 trade discount is given on basis of purchasecash discount is given on basis of paymentpoint 5trade discount is facilitates to increase salescash discount is given for quick paymentshope this will help youmark as brainlist

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size financial statements present all items in PERCENTAGE terms. Balance sheet items are PRESENTED as percentages of assets, while INCOME statement items are presented as percentages of sales. Comparative financial statements present financial data for SEVERAL YEARS side by side.

what is this .not UNDERSTAND.

ent accounting refers to the process of recording and the management of all financial TRANSACTIONS incurred by the government which INCLUDES its income and expenditures. Various governmental accounting systems are USED by various public SECTOR entities.

(1) Machinery a/c. Dr ₹1,50,000 To Bihar Ltd. ₹1,50,000(Being machinery purchased) (2) Bihar a/c. Dr ₹1,50,000 To Equity Share Capital a/c. ₹1,50,000(Being the purchase CONSIDERATION satisfied by issuing 15,000 shares @10 PER share issue at par as per Board's Resolution No.... Dated....) EXPLANATION:Workings - No. of shares ISSUED = ₹1,50,000/₹10 = ₹15,000

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(C) CURRENT ASSETS, INVENTORY

I have to SLEEP TRY to FIND it by yourself or with a few days ago and I don't know the ANSWER SORRY

n:Balance Sheet of Queen's Club as at 31st MARCH 2019Liabilities                                  AmountCapital FUND                         Rs 1080000Building Fund-Rs 480000              ADD:        Donations receivedfor BUILDING-Rs 600000Add:INTEREST on Building Fund Investments-Rs 48000Less:Expenditure onconstructiontransferred toCapital Fund-Rs 360000        Rs 768000Assets                                        Amount10% Building FundInvestments                             Rs.480000Building Fund accounting for non-profit organisations:brainly.in/question/17203096

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(1). X partner's Capital a/c. Dr ₹5,000 To RAMSHA's Capital a/c. ₹5,000(Being share of goodwill adjusted between affected partners through their capital a/c) Explanation:WORKINGS - Calculation of SACRIFICING ratio - Ramsha = 3/6 - 1/3 = 1/6 (sacr) Mahadev = 2/6 - 1/3 =0/6 (neutral) X = 1/6 - 1/3 = (1/6) (gain) Ramsha's share of goodwill = ₹30,000 x 1/6 = ₹5,000

MTT - Mean TRANSIT TIME(brain TISSUE blood flow)

Account TYPE Overview The five account TYPES are: ASSETS, Liabilities, Equity, Revenue (or Income) and Expenses. To fully understand how to post transactions and read financial reports, we must understand these account types.hope this helps you!!!

The ANSWER is C.Explanation: HOPE it is helpful.please GIVE me a BRAINLIST.

The amount of prepaid insurance will be credited from assets and debited in liability thus, the equation will be 5000 +1000 = 2000+4000-1000. The same way COMMISSION of Rs. 2800 will be added to assets and liability because there's an increase in cash and also an increase in CAPITAL (Income).

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