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Coastal Couriers Entity Sole Trader is in the business of delivering documents and packages in all regions in Namibia using its fleet of delivery vans. Coastal Couriers Entity's head office is located in Windhoek. It operates a fleet of five delivery vehicles. Because of increase demand for its delivery services prior to the summer school holidays and the need for an additional delivery vehicle, it has rented a delivery vehicle for three months at a cost of N$ 40 000. The business wants to recognise the rented vehicle as an asset in the financial records of the business.
Discuss whether the treatment prosed by the business is correct or not.
When Mang Inasal was acquired by Jollibee, both entities benefited. Enumerate the benefits brought by the business combinations of both entities.
Delta Aluminum’s management is considering eliminating product B, which has been showing a loss for several years. The company’s annual income statement is as follows: A B C Total Sales $2,209,000 $1,402,000 $1,805,900 $5,416,900. how many units of t..
Define each of the five elements of financial statements and state then circumstances in which an element should be recognised in the financial statements.
In the December 31, 2021 consolidated statement of financial position, the non-controlling interest in net assets of Subsidiary should be presented at?
Why is charging a fee as a percentage of investment assets a challenge when servicing a book of clients mostly composed of retirees?
It also sold several assets during the year. Compute Lemon's taxable income under each of the following alternative assumptions about the tax consequences
There are a number of customers that have ordered, How the transaction has been treated in the financial statements, for year ended June 2020?
The owner contributed $75,000 as the opening balance of cash for the business in April. Prepare cash budget for the two months April and May
As a result, he failed to discover a fraud involving substantial defalcations by Renae Friend, Why do auditors have a duty of care to their clients?
Preferred shares are 100,000 for both 2019 and 2020. Explain the accounting issue and explain how it can be solved under both ASPE and IFRS
Parent Company acquires 80% of the outstanding stock of Subsidiary Company on the open market. They acquired the 8,000 shares by exchanging 2 shares of Parent for each share of Sub. What is the balance in the Investment in Sub balance at the end of t..
Find The depreciation expense for 2020 should be, Accumulated depreciation on this machine at December 31, 2019, was $118,000, using the straight-line method.
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