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X Transport Ltd. purchased from Delhi Motors 3 Tempos costing Rs. 50,000 each on the hire purchase system on 1-1-2004. Payment was to be made Rs. 30,000 down and the remainder in 3 equal annual instalments payable on 31-12-2004, 31-12-2005 and 31-12-99 together with interest @ 9%. X Transport Ltd. write off depreciation at the rate of 20% on the diminishing balance. It paid the instalment due at the end of the first year i.e. 31-12-2004 but could not pay the next on 31-12-2005. Delhi Motors agreed to leave one Tempo with the purchaser on 1-1-2006 adjusting the value of the other 2 Tempos against the amount due on 31-12-2005. The Tempos were valued on the basis of 30% depreciation annually. What will be the value of Tempo left with buyer & taken away by seller at the end of 2nd Year.
AB company issued a 10 year, 4%, $2,000,000 redeemable bond issue paying interest twice a year on December 31 and June at an effective rate of 3.6% on June 30, 2014. On September 30, 2019, AB redeemed forty percent of the bond issue at 101.
On May 1, 2010, a company purchased a new machine which it does not have to pay for until May 1, 2012. The total payment on May 1, 2012 will include both principal and interest. Assuming interest at 10% rate, the cost of the machine would be the t..
suppose you want to estimate the proportion of cars that are sport utility vehicles suvs being driven in kansas city
a. Organize the information in accounts under an accounting equation. b. Prepare an income statement, balance sheet, and statement of cash flows for 2010. c. Write a memo discussing the advantages to a business of arranging a line of credit.
On January 10, 2012 Badger Co. purchased 30% of the outstanding stock of Crest Co. fir $123,000. Crest paid total dividend to all shareholders of $15,000 on July 15. Crest had a net loss of $25,000 for 2012.
Journalize TKR Enterprises entries to record - the issuance of the note
If the fair value of a held-to-maturity investment declines for a reason that is viewed as "other than temporary" because the company intends to sell the investment:
The process of using activity-based costs to help reduce or eliminate non-value-added activities and can be eliminated without affecting the desirability of the product from the perspective of the customer.
how does lifo affect income if prices increase decrease or remain the same?and how does fifo do the same? and how do
The SEC's Enforcement Division investigates possible violations of securities laws, recommends SEC action when appropriate, either in a federal court or before an administrative law judge, and negotiates settlements.
mathewson company began operations on january 2 2010. itemploys 20 individuals who work 8-hour days and are paid
Sally incurred a 90-mile round-trip commute every day, mainly because she could not get along with her supervisor at the sales office located four miles from her home. Sally works under a one-year contract
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