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Show Point Of Sale Entry For Abc Retail Inc For July 5th

What is the journal entry for commenced business with cash?

It is quite simple. In your question two accounts can be reflected, i . e. One is the Real Account i.e. Cash A/c and the another one is representative of personal A/c. i.e. Capital invested by owner of the business.So, when you commence business with cash, you invest money into the business, which receives cash in the form of Capital which a liability to the business according to business entity concept.So, when the cash comes in, we debit the Cash A/c and Credit the capital A/c adhering to the rules of Real Account and Personal Account which says” Debit what comes in whereas credit the giver. The capital invested in the business is a liability to the firm/concern and so it is credited.So the journal entry is:Cash A/c Dr 500To Capital 500(Being the amount brought up in the business as capital)Hope my answer has clarified your question.

Which is the best and cheapest GST billing software in India?

Now a days Spectrum is the most popular, cheap and best point of sale software available on very reasonable cost in Indian an US market for any retail industry. An intuitive, simple and effective User friendly interface Spectrum is designed to handle multi-layered business hierarchy, variety of business models and several retail formats. It supports franchisee models spread across multiple geographies through its robust technology architecture and a variety of features and functionalities which are available out of the box.The retail store POS software we were earlier using had troubles in different platforms and we wanted a retail POS software with multi-platform and multi-device capability. Both were available in Spectrum and it has been a good experience working with it. It is available on very fair and reasonable cost in Indian Market.GST Billing Software for Retailers Spectrum, is a comprehensive Retail Business Management Suite solely built for Retail.Spectrum Retail Business Management Suite empowers retailers in their business transformation by offering:Unified Multi-Channel Customer ExperienceGST enabled invoicing SystemRapid Mind to Market: Real–time Execution of Complex Retail StrategiesMulti-Platform, Multi-Device CapabilityCustomer Loyalty Program with Central Management and Local FlexibilityRobust Centrally Managed Pricing and Promotions Engine with Seamless Integration to POSBusiness Intelligence Engine for Dynamic Business Decisions and StrategizingEnd-to-End Value Chain Visibility Configurable and Scalable Architecture Supporting Multi-Layered Business HierarchyLower Total Cost of OwnershipFor More details you can visit website: https://retail-spectrum.com/

Is it common to put some fake working experience on the resume?

I do not believe it is common, though I can only speak to the industry I am in. Fake experience is easily taken apart during the interview in tech, and if you're found to be lying, you'll most likely be blackballed by the company (and anybody who leaves the company and remembers you). It'll get your foot in the door, maybe, but it won't get you the job. Just don't do it.Instead, take the experience you actually have and frame it as to be relevant to the jobs you want. If you can't do that, GET that experience before you apply. Check out this post on how best to frame your experience on your resume.

What does the abbreviation N.B. mean and why do people use it?

Based on Dictionary.com’s entry for the abbreviation “N.B.,” it does, indeed, mean—as other answers here have pointed out—the Latin phrase nota bene, or “note well.” In everyday writing or verbal exchange, native English speakers would simply say, “take note of this.” Its intent is to call attention to something, whether a main point or an afterthought nonetheless considered important, such as to help qualify a previous assertion. An example might be:Such statistics indicate that mice with gum disease have a higher incidence of Alzheimer’s, but, n.b., hard conclusions cannot be drawn until more studies are conducted.[1]Use of an abbreviation of a Latin phrase such as this one would likely be confined to academic, or legal writing. To date (at 61 in my years, that’s a big date), I can’t recall ever having seen it used, and if I have, it would have been in a long-forgotten academic or legal text.According to a debate on StackExchange.com, some people are apparently using it in place of “P.S.” (postscript) at the end of emails. I’m not sure who is doing this, never having received such an email myself. They may be using it correctly and legitimately, or they may be using it as an affectation to seem smart or sophisticated. For most of us mortals, a simple P.S. is sufficient to indicate an additional thought after closing an email or letter. Whether that thought is important or not, simply setting it off as a postscript already calls attention to it. I suppose if one wishes to emphasize that it IS important, then “N.B.” would be appropriate. Certainly, among peers in academia or law, it would not be seen as a strange thing to do.Thank you for the A2A.The example was inspired by the footnoted article.Footnotes[1] We may finally know what causes Alzheimer’s – and how to stop it

Help with accounting questions please!!?

During Bricker Company's first year of operations, credit sales totaled $200,000 and
collections on credit sales totaled $145,000. Bricker estimates that $1,000 of its ending
accounts receivable balance will not be collected. By year-end, Bricker had written off
$330 of specific accounts as uncollectible.
Required:
6a. Prepare all appropriate journal entries relative to uncollectible accounts and bad debt
expense.
6b. Show the year-end balance sheet presentation for accounts receivable.


During Bricker Company's first year of operations, credit sales totaled $200,000 and
collections on credit sales totaled $145,000. Bricker estimates that $1,000 of its ending
accounts receivable balance will not be collected. By year-end, Bricker had written off
$330 of specific accounts as uncollectible.
Required:
6a. Prepare all appropriate journal entries relative to uncollectible accounts and bad debt
expense.
6b. Show the year-end balance sheet presentation for accounts receivable.

Chavez Inc adopted dollar-value LIFO on January 1, 2011, when the inventory value
was $850,000. The December 31, 2011, ending inventory at year-end cost was $950,000
and the cost index for the year is 1.08.
Required:
Compute the dollar-value LIFO inventory valuation (rounded) for the December 31, 2011,
inventory.




On June 30, 2009, Mobley Corporation acquired a patent for $4 million. The patent was estimated to have an eight-year life and no residual value. Mobley uses the straight-line method of amortization for intangible assets. At the beginning of January 2011, Mobley successfully defended its patent against infringement. Litigation costs totaled $650,000. Required: 10a.. Calculate patent amortization for 2009 and 2010. 10b. Prepare the journal entry to record the 2011 litigation costs. 10c. Calculate amortization for 2011. 10d. Repeat requirements 2 and 3 assuming that Mobley prepares its financial statements according to International Financial Reporting Standards.

Is GST included or excluded in MRP?

Yes, GST included in MRP.Recently LocalCircles done a survey on it and found many retailer are charging GST over MRP.Here is the survey link : https://www.localcircles.com/a/p...

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