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Dr. Bankey Lal, a businessman, constructed a multi-storied building consisting 16 flats of equal size. The construction was started in April 2004 and completed on March 31, 2008. Of these 16 Flats, 8 were let-out to tenants for their residence, 2 to tenants for their business, 2 were used by Doctor Bankey Lal for their business, 2 were used by him for his own business and 2 were allocated to 2 employees of Dr. Bankey Lal; Business for their residence and the occupation of these 2 flats by the two employees facilitated the carrying of on his business. The rent charged from each of the ten tenants were Rs 500 p.m. but from the two employees of Dr. Bankey Lal@ Rs 200 p.m. One of the tenants were in arrear of rent for two months during the year and was unable to pay the same. After, he vacated the flat, Dr. Bankey Lal had to wait for two months to get new tenant. The expenses incurred by Dr. Bankey Lal in respect of the flats during the year ended on 31 March 2013 were as follows :- Municipal taxes for each flat Rs 750, cost of repair of each flat Rs 500, annual interest on loan on construction of house Rs 24000, Fire is insurance premium for flat Rs 100, Law charges in connection with a lease agreement were paid for each flat Rs 500.
Late in 2013, you and two other officers of Curbo Fabrications Corporation just returned from a meeting with officials of The City of Jackson.
He has orally assured Terri that he will pay off the account receivable within the next year. Terri reported the $100,000 in the same manner on the preceding year's balance sheet.
the accuracy of accounting records is enhanced by the integrity of internal controls. comment on this statement and
If an election is available and is made to use alternate valuation for federal estate tax purposes, then if a parcel of real estate owned by the decedent is sold within six months after the decedent's death, the parcel of real estate is valued for..
On February 26 a hurricane destroyed the entire inventory stored in a warehouse owned by the Rockford Corporation.
orange company manufactures calculators. during the month 25000 of raw materials were purchased and the warehouse
1. Which statement is not correct? The audit trail in a computerized environment
Look at BA's Note 28: Long-term borrowings and Note 29: Operating lease commitments. Does BA obtain use of its aircraft more using operating leases or finance leases? Do lessees report operating and finance lease commitments the same way? Explain.
wordsmith is a publishing company with a number of different book lines. each line has contracts with a number of
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on may 31 2007 core company issued 1000 14 10-year 1000bonds at 105. each bond was issued with one detachable stock
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