Examlex
If 400 apple pies are sold at $4 per pie, but 500 apple pies are sold at $3 per pie, we know from the total revenue rule:
Accumulated Depreciation
The total amount of a tangible asset's cost that has been allocated to depreciation expense since the asset was put into use.
Fees Earned
Revenue earned from providing services, as opposed to selling goods.
Income Summary
An account used in the closing process that summarizes the revenues and expenses of an accounting period.
Capital
Financial assets or the financial value of assets, such as cash and goods, working capital used in a business by a person, company, or organization.
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