0
Which principle determines the amount initially entered into the records for purchases?
Wiki User
∙ 11y ago
cost principle
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
What does it mean when no DLA is shown on your credit report?
The Date of Last Activity is missing, due to an error in data entry or it wasn't available. Probably the former, as the DLA determines when the information is entered.
What is 5 basic bookkeeping principles?
What is 5 basic bookkeeping principles?5-basic Principles of Bookkeeping1. Principle of double entryeach transaction is entered twice in the books of accounts. For every debit there must be a corresponding credit.2. Principle of recordingall accounting entries emanate from a source document. This is the authority for entry into journals (general & specialist journals)3. Principle of profit determinationthe life of a business is divided into time periods. Revenue & expenses from thoseperiods can be matched to determine whether a profit or loss has been obtained.4. Principle of reportingaccounting information is to be conveyed to a person without accounting knowledge in a clear, logical and understandable form.5. Principle of controlaccountants & bookkeepers must be constantly alert to ensure that the accounting practices minimise the chances of error and fraud.
How does a visa credit card work?
A Visa credit card works by allowing a customer time to pay the balance owed when making purchases. The credit card is swiped or entered into a machine, and the user has about 30 days to pay for merchandise to the issuing card company without being charged interest. If the balance is not paid in that time, the user is charged interest on the remaining balance.
What was the long term affect of the stock market crash?
the country entered into a depression
Errors of original entry?
When a wrong figure is entered in the two books of account.
Marlow company use a perpetual inventory system It entered into the following calendar-year 2011 purchases and sales transactions?
Anthony Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.
How do you use trepidation in sentence?
"With trepidation, I entered the principle's office".
Is vat entered in the profit and loss account?
VAT is accounted for in the Balance Sheet if you have the right to claim VAT on purchases and liability to pay VAT on sales respectively i.e. if you are VAT registered. VAT on purchases is accounted for in the Profit and Loss (purchases are entered gross i.e inclusive of VAT) if you have no right to claim it i.e. if you are not VAT registered.
What does reliability mean in terms of accounting?
Reliability is a basic accounting principle, known also as the objectivity principle. The principle means that only transactions that can be verified will be entered into a company's books.
What is purchases return and the double entry?
Purchase return - this is the outward return by the firm While double entry is when you have entered the transaction twice
How many teams will be in the 2010 worldcup qualifactions?
205 initially entered the 2010 World Cup qualifiers. 32 teams qualified.
What is the working principle of ATM?
The working principle of the ATM is to offer cash access virtually anywhere. An compatible card is input, a PIN code entered, account balance checked, and money dispensed.
Does horchow offer free shipping on online purchases?
Horchow does not offer free shipping for standard purchases made online. However, Horchow does often offer free shipping for orders in excess of a certain amount with the use of promotional codes entered by the consumer during the checkout process.
Whether lien entered after foreclosure judgment entered is binding on purchaser?
Unfortunately for the purchaser, I believe that it is going to be. Some liens run with the property regardless of who purchases, or owns, it - "Mechanic's Liens" for instance. You really need to speak with a real estate attorney who is familiar with the law in your state.
What does it mean when no DLA is shown on your credit report?
The Date of Last Activity is missing, due to an error in data entry or it wasn't available. Probably the former, as the DLA determines when the information is entered.
Why is return outward in debit of trial balance?
1. Which transaction is entered in the general journal?A cash paid to supplier C office equipment bought on creditB Cash received from customer D cash purchases
Can Office Max coupons be used online?
Most Office Max coupons can be used with your online purchases. If you check the small print on the coupon itself, there should be a code which can be entered online when checking out in order to apply the coupon saving.
