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The accounts of midland Industries ltd., showed an amount of Rs 100,000 to the credit of Profit and loss account on 31st December 2019 out of which directors decided to place Rs 20,000 to General Reserve fund, and Rs 5,000 to debentures redemption fund.
At the annual general meeting, it was decided to place Rs 10,000 to a War Reserve fund (to provide for contingencies) and to pay a bonus of 2 ½ per cent of the profits to the directors as additional remuneration. It was also decided to pay a dividend at the rate of 10 per cent on Equity share capital of Rs 300,000. The balance of profit and loss account to be carried forward to next year.
Problem 1: Find and show the profit and loss appropriation account of the company.
On January 1, 2018, Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $530,000 of 7% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. If the market interest rate is 6%..
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: The company also established the following cost formulas for its sell..
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Other vendors could provide the fairly straightforward installation and service. What are Company A's performance obligations in this contract?
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