Human resources are best recognized and accounted for through expenses related to their compensation and development rather than as assets on the financial statements. On 1 September 20X8, Michelle had a balance outstanding owed to one of her suppliers of $400. That supplier also had a balance outstanding owed to Michelle of $500. Amendments under…

Such transactions could also be customer refunds, which are then reduced from the sales. Dividends are also classified as cash disbursement and these decrease the company’s equity.Generally, such payouts are made from the accounts payable but sometimes could also be disbursed from payroll or petty cash. When a business spends money it can pay for…

Debit and credit represent two sides (columns) of an account (i.e., a Debit column and a Credit column). Debit (Dr.) involves making an entry on the left side and Credit (Cr.) involves making an entry on the right side. On October 1, Nick Frank opened a bank account in the name of NeatNiks using $20,000…

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