deals with things like machinery 6. the accumulated profit is also known as the retained earnings‚ retained profit and unappropriated profit. what is the accumulated profit and why do accountants and bookkeepers use different names for the same thing? (6 marks) Accumulated profits is profits that are not paid as dividend but is transfered over to the accounts for the next year. Also can be used to reinvest in the core of the business to help pay off debts or to purchase a capital asset. The reasons
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bank‚ potential vendors‚ or other interested parties. An account system is also important to process sales‚ purchase orders‚ invoices‚ payroll‚ and other business functions manually. The accounting system must be scalable‚ secure and gather data feed from other business systems to collect up-to-date business finances. The installed REMS came with the following Finance and Accounting Financial Modules: General Ledger Module‚ Accounts Payable Module‚ POS module‚ Bank Reconciliation Module‚
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it will be recorded in the purchase journal‚ once it has been certified as a valid invoice. After the journal entries‚ the next step is to post the journal entries into account. Ledger Account also known as “T” Account and Account. Ledger accounts categorize these changes or debits and credits into specific accounts‚ so management can have useful information for budgeting and
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What Kind of Success Should We Embrace？ Since ancient times‚ people in growing numbers have been pursuing success. When asked about what success is reflected in‚ people’s answers differ. Some people believe that enough fund and outstanding achievements embody a successful man or woman whereas others insist that success is doing something that one considers is worth doing. I am in favor that the view on whether successful or not varies from people to people and era to era and strong espouse
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“What Drives Success?” is an article written by Amy Chua and Jed Rubenfeld that uses facts to determine the simple question of what drives success. As the two authors dig into this subject they determine that other ethnic and religious groups are doing better than white Americans. Indian-Americans make almost double of what white-Americans are making (1). People of the Jewish religion only make up two percent of America’s population‚ yet they make up a third of the current Supreme Court (1).
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company issue a share having face value of Rs 10 at Rs 8 Give two examples of ‘Capital receipts’. Give two circumstances in which sacrificing ratio may be applied (1) (1) (1). (1) (1) Show how you would deal with the following items in the final accounts of a club: (3) Debit credit Prize fund Prize fund Investments 1‚20‚000 Income from Prize fund Investments Prizes awarded 9000 Q7. 1‚20‚000 12000 A‚B and C are partners sharing profits and losses in the ratio of 1 : 2: 3. They have omitted interest
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What is really meant by success? We are different individuals with different views and ideas about a certain matter. And every time we are asked about our dream in life‚ we often say that we want to be successful in life. The question is what is meant by success? When can we say that you are already successful? Our professor (Ma’am Jimenez) asked this during our last class prior to our examination in her class. We had offcourse our own definitions and indicators of success. Well‚ some of my
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Napoleon is the most charismatic general in French history‚ famed for his military successes and (at the same time) for not quite conquering Europe. Starting as a second lieutenant in the French artillery‚ he rose quickly through the ranks until he staged a 1799 coup that made him First Consul of France. (In 1804 he went further‚ proclaiming himself emperor.) He led his armies to victory after victory‚ and by 1807 France ruled territory that stretched from Portugal to Italy and north to the river
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Prohibition The 18th Amendment‚ ratified on January 16th 1919‚ which prohibited the manufacture‚ sale‚ export‚ import and transportation of alcoholic beverages‚ happened because of the Temperance Movement. It was believed at the time that alcohol was the main problem in society and that it needed to be removed. This moral issue divided people up between those who were “dry” and those who were “wet”. Either way‚ it was eventually repealed because of the problems that came from it. While that was
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m.Module 3 CAPITAL BUDGETING Meaning of Capital Budgeting :- Capital Budgeting is the process of making Decisions regarding long term investments in Fixed Assets which are not meant for sale. It is long range planning to employ the available capital for the purpose of maximizing the long term profitability of the concern. Definition of Capital Budgeting:- Prof I.M.PANDEY Defines Capital Budgeting as the firms decision to invest its current funds most efficiently in long term activities
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