User Account

All Pages

What two accounting principles that abc sdn bhd not follow

Assignment Help Accounting Basics
Reference no: EM133028184

Question - As at 31 December 2020, ABC Sdn Bhd total sales for the year are RM300 million. Alex, the CEO of ABC Sdn Bhd, instructed the Company accountant to declare / record the Company sales at RM250 million only. The undeclared sales of RM50 million will be recorded next year. However, the accountant accidentally record the expenses associated with the undeclared sales. What are two (2) Accounting Principles that ABC Sdn Bhd did not follow?

Reference no: EM133028184

Questions Cloud

Indicators and symptoms of dementia : Desmond is a 70-year-old man with mild dementia who lives at home in his community. Desmond has a few supportive family members that help him to manage
What is the variable overhead spending variance : This year the company had the standards: Variable overhead application rate: $5 per direct labour hour. What is the variable overhead spending variance
Explain relation of rooms division manager : Explain in detail relation of rooms division manager front office manager executive housekeeper and how their management allows them to effectively become a hos
Labour shortage and wage theft issues : What Human Resource Management practices could use for the suggestion of "Labour shortage and Wage theft issues"?
What two accounting principles that abc sdn bhd not follow : However, the accountant accidentally record the expenses associated with the undeclared sales. What are two Accounting Principles that ABC Sdn Bhd not follow
Ways for an entrepreneur to go beyond convention : 3. What are some ways for an entrepreneur to go beyond convention to design a product to appeal to a particular market?
Analyzing ELF files : You will use memory-mapped file I/O to open and read ELF files - skeleton projects are provided so that you can choose whether you want to write the program
Challenges confronted by the small micro enterprises : Identify and discuss with examples four (4) major challenges confronted by the small micro enterprises even before the onslaught of covid 19 as highlighted in t
How much should rm record as unearned franchise fees : On December 31, 2021, how much should RM record as unearned franchise fees in respect of the GINNY franchise

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much is the value added tax payable

Question - A VAT taxpayer had the following data on its operations for the month of January 2018: How much is the value added tax payable

  Present value analysis

James Hardy recently rejected a $20,000,000, five-year contract with the Vancouver Seals. The contract offer called for an immediate signing bonus of $7,500,000 and annual payments of $2,500,000. To sweeten the deal, the president of player..

  Find what the government should do

Assume you are planning to interview shoppers in a shopping mall about their views on increased food prices and what the Government should do about them.

  Prepare the journal entry to record income taxes

Prepare journal entry to record income taxes, assuming it is more likely than not that three-fourths of the deferred tax asset will not ultimately be realized

  Violation of aicpa rules

In a detail response, what violations of internal controls (using documentation), and accounting regulations, could have been violated? Please response as if the CPA firm may have been in violation of AICPA rules or other related organizations. A..

  An account is an important accounting record where

an account is an important accounting record where financial information is stored until needed. briefly explain the

  A company operates in a competitive marketplace they look

a company operates in a competitive marketplace. they look to the market to determine their selling price. it looks

  State the balance of the accounts via T-ledger

State the balance of the following accounts via T-ledger for the year ended 31 December 2019: Allowance for doubtful debts

  Forming payoff matrix

Suppose both governments offer their respective company a subsidy of $4(million), but only if they produce.  Airbus is still able to produce before Boeing. Fill in the new payoff matrix below. What is the equilibrium outcome?

  The following accounts appear in the ledger of abc inc

the following accounts appear in the ledger of abc inc. after the books are closed at december 31 2014.common stocknbsp

  Discuss why it is appropriate for happlia to use this method

What general criteria should Happlia use to determine inventory carrying amounts at December 31, 2011?

  Prepare a table showing depreciation expense

Prepare a table showing depreciation expense, accumulated depreciation and book value for each year assuming straight-line depreciation

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd