Accounting: Debits & Credits

What type of company asset would fixtures be considered? – Plant Asset
Shrinkage: the difference between a physical count and recorded quantities – g.
Bookkeeping – The procedural aspect of accounting that involves keeping detailed records of business transactions, much of which is done today by computers.
Depreciation – Is the process of allocating the cost of buildings and equipment over their productive lives using a systematic and rational method.

Depreciation Expense xxxx
Accumulated Depreciation xxxx

Accounting equation – Showing the relationship between assets, liabilities and owners equity
going concern assumption – Accounting assumption that a company will continue in operation for the foreseeable future.
Which of the Jovian planets would you expect to look almost featureless, like a smooth blue-green ball?
book keeping – mechanical and repetitive; it is the process, usually through the use of computers, of recording financial transactions and keeping financial records. small but important part of accounting
premium – sell more than face value
* market rate is lower than stated value
Gross margin – the difference between net sales and cost of goods sold
Which оf the Jоviаn plаnets wоuld you expect to look аlmost featureless, like a smooth blue-green ball?
Difference in net income (when units produced > units sold) – =FOH/unit x (units produced-units sold)
dividends – distributions (usually cash) by a corporation to its stockholders.
Statement of Account – A report sent to each customer which indicates the status of his account
office supplies – Büromaterial
operating activities – the activities associated with the day to day operations of the business (provide goods or services to customers and associated costs)

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