November 26, 2015

Homework Help: xacc 280

Posted by Tracie on Thursday, July 1, 2010 at 11:53pm.

If there has been anyone that has taken this class could get a little help. I am not looking for the answers just some more info. I am not understanding it.

For each of the three situations, say if the accounting method used is correct or incorrect. If
correct, identify which principle or assumption supports the method used. If incorrect, identify
which principle or assumption has been violated.
E1-5 Meredith Cleaners has the following balance sheet items.
Accounts payable Accounts receivable
Cash Notes payable
Cleaning equipment Salaries payable
Cleaning supplies Common stock

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