An explanation of the accounting role of a business. What is the purpose of the function, and why is it required? What type of information does it offer?

Q: vet income 9 Units sold = 8700 games units Selling price per unit = $ 69 Variable expenses = $ 49…

A: Net income is calculated by deducting all the variable costs and fixed costs from the sales. It is…

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A:

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A: Contribution margin per unit = Selling price per unit  - Variable Cost per unit

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A: The journal entries are pass according to double system of accounting with states that and…

Q: WHAT ARE SOME EXAMPLES OF POLICY CREDITS AND ADMINISTRATIVE GUIDANCE

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A: Process costing is one of the method of cost accounting, under which product has to go through…

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A: Normally markdown refers to the discount or the reduced price of the product.

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A: SUTA Tax: Employers are obliged to pay a payroll tax known as SUTA. It is also referred to as "state…

Q: 6 Remington purchased $5,800 of supplies from Technology Associates on account. 10 Remington paid…

A: Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…

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Q: 10 March Olga withdrew cash, $300 15 March Purchased goods on credit, $200

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A: Equivalent units are those number of units which are completed or manufactured in a particular time…

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Q: At their request, a few members are furnished prenumbered predated envelopes in which to insert…

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A:

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A: IFRS refers to International Financial Reporting standards which are the globally accepted…

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is