20 words word with operational meaning

Answers

  • Réponse publiée par: trizianichole20

    answer:

    kumonikasyon yun lamang sa tagalog pero sa ingles hindi ko alam kung ano ang nandyan

  • Réponse publiée par: christiandumanon
    DUAL EFFECT IN ACCOUNTING EQUATION

    Double Entry bookkeeping: Comes from two sides of an equation:

    PROPERTY= OWNERSHIPAccounting Values or Elements

    A. Assets: defined as the economic resources which are owned by a business and are expected to benefit future operations.

    B.Liabilities: debts or financial obligations of the business to its creditors and refer to the claims of creditors and refer to claims of creditors against the assets of the business.

    C.Owner’s Equity-Known as the right or claims of the owner over the assets of the business.

    Analyzing business transactions using T-Accounts  

    Account: an accounting device used in summarizing the changes in the assets, liabilities and owner’s equity account caused by business transactions and events.

    Ledger: Means group of accounts: it refers also to the book where the accounts are kept.

    T-Accounts:  This consists of two lines, one vertical and one horizontal, and resembles the letter T. The title of the account is written on the horizontal, ( Top) line. Increases and decreases in the account are entered on the different sides of the vertical line.

    Name of the Account                            Account No.

                              Left Side          Right Side

           

                              Debit Side    Credit Side

                 Value Received                  Equals Value Parted with

    What is the accounting equation? read more on:

    What is the basic accounting equation read more on:

  • Réponse publiée par: homersoncanceranguiu
    LAND

    Assets: Defined as the economic resources which are owned by a business and are expected to benefit future operations.

    What is your asset? read more on:

    Assets as  the first element of accounting equation.

    Classification of Assets

     Current Assets: This includes cash and other assets which can easily be converted into cash, sold, or consumed during normal business operation.

     Plant or fixed assets: a non-current asset that is more or less permanent in nature, not for sale and exclusively for business use only and has physical existence.

    Current Asset Accounts Include:

    1.Cash

    2.Accounts Receivable

    3.Inventory

    4.Notes receivable

    5.Interests receivable

    6.Allowance for bad debts

    7.Merchandise Inventory

    8.Prepaid Expenses

    9.Supplies on hand

    Fixed Asset Accounts Include:

    1.Land

    2.Building

    3.Equipment

    4.Delivery Equipment

    5.Accumulated depreciation

    6.Tools

    a.  Asset- Land is an asset, it is considered as fixed asset because land is invested for long-term use and it cannot be converted to quickly into cash.

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20 words word with operational meaning...