What are the specific accounting policies that a bookstore businesses should have? Provide a specific example.
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What are the specific accounting policies that a bookstore businesses should have? Provide a specific example.
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- When should entries from the sales journal be posted?Consider the inventory of a retailer. Describe how the qualities of information presented in this chapter can help enable the efficiency and effectiveness of the organization?Give specific examples of accounting policies applicable for a small business like a bookstore.
- What effects on a retail store's accounting equation occur when merchandise returned by customers is recorded?What is the posting procedure for the sales journal?What are some of the accounting information costs? What are some advantages of accounting data? Describe the cost-benefit considerations to consider when proposing new accounting rules.