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Question - Calculate the profit of a company for a year given that:
- assets went up by $33 400 (part of this increase was the result of land being re-valued upwards by $20 000)
- liabilities went down by $15 700
- shareholders contributed $5 000 in new capital
- dividends distributed to shareholders amounted to $7 500 (these dividends were declared and paid in the current year)
- debt of $12 000 was reduced by an exchange for an equivalent amount of ownership capital.
The concept and detailed design of a kit for each car is estimated to take 30 hours of the owner's time (his current salary is $2,300 per fortnight).
Prepare a general journal entry to record depreciation on the machine for the five months in 2022. Use the straight-line depreciation method.
on 1st may 2013 green corporation issues 1000000 of 12 bonds dated 1st january 2013 for 975000 plus accrued interest.
Preparation of Bad debt Account and their Adjustment - What's the total f account in bad debts expense and What's the amount of the adjuster
Plemmon Company adds materials at the beginning of the process in the forming department, which is the first two stages of its production cycle. Information concerning the materials used in the forming department as April follows: Using the average c..
How will the change in inventory be reported in the operating activiteis section of the statement of cash flows? Myers Inc. uses the indirect method to prepare the statement of cash flows. The following amounts are shown in its Dec. 31,2013 financial..
Illustrate what is the company's total tax liability to both jurisdictions for each of the two alternative transfer pricing scenarios?
Determine Cost of Trade Credit. What are the nominal and effective costs of trade credit under the credit terms of 4/20, net 40? Assume a 365-day year.
Explain the concept of a nominal anchor. Then explain how, for some countries, the exchange rate can be used as a nominal anchor
How much should D contribute in cash of other assets? The following balance sheet is presented for the partnership of A, B and C, who share profits
You are performing an audit and have been asked to test the accuracy of petty cash. What are some audit procedures you could utilize
After reading about global business - what would you say are the two biggest challenges for any company that wants to be a global contender? How might a company overcome these challenges? Do you think all companies today should have a global presence..
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