After this, entries are recorded in books of accounts. The transactions are recorded in the form of a Journal entry. Each journal voucher posts to one specific fiscal year & fiscal period. Standard Voucher (SV) – A transaction that is … Continua
Medici is returning inventory, which means the balance in the inventory account is decreasing. On August 14, Medici Music returns $700 worth of merchandise to Whistling Flutes, LLC because the wrong merchandise was received. In this circumstance, an adjustment isrecorded … Continua
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The fixed cost can be calculated once the variable cost per unit is determined. The high-low method comprises the highest and the lowest level of activity and compares the total costs at each level. The cost amounts adjacent to these … Continua