At the beginning of the year, XYZ Company reported Accounts Receivable of $39,000. During the year, the company had credit sales totaling $288,000. At year end, the Accounts Receivable balance was $8,000 higher than the beginning balance. How much cash was collected on the accounts during the year?

A trial balance prepared at the end of the accounting period after adjusting entries are made is called a/an _________________.

A ____________ is the right to use property owned by someone else.

The charge made to the current operations for the portion of cost of long-lived assets consumed during the current period is called _________________.

Different balance sheet items employ different valuation methods. Which of the following valuation applications is NOT generally accepted?

Comparing actual performance to previously budgeted amounts is part of the ________.

You are a seller selling some kind of product. At the end of the accounting year, you are left with some closing stock. What will you do to show it in the final accounts?

A company's balance sheet shows the following data. Cash = 60 units Stock's = 50 units Fixed Assets = 150 units Loan amount = 80 units Wages to the employees = 10 units Insurance Premiums = 1 unit Accounts payable = 1 unit Which of the following is the Shareholder's Equity of the company?

You have an asset account A worth 4000$  attached to a liability account B that is also worth 4000$. You perform a debit operation on the asset account for 500$ and repeat the same operation for the liability account what are the likely balances of both accounts ?

K is a product based company whose current ratio is very low . The company's board of directors assigns the task of improving the ratio to the accounting department . Which of these can be a probable measure taken by the accounts team to improve the current ratio?

You are a seller and you purchased 20000 bats for selling for one accounting year. But you failed to sell all of them at the end of the accounting year. If you want to determine the gross profit or gross loss your selling has produced, what will you brought into the final accounts?