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Accounting concepts
The word 'Accounting Concept' is used to denote necessary assumptions and ideas which are basic to accounting practice. The variety of accounting concepts is like this:
This idea does not trace any fact or happening, however significant it is to the business, in the books of accounts if it cannot be spoken in terms of money. And as per this idea, a transaction is recorded at its money worth on the date of occurrence and the following changes in the money value are suitably unnoticed.
3:Barnes Baskets, Inc. (BB) currently has zero debt. Its earnings before interest and taxes (EBIT) are $100,000, and it is a zero growth company. BB's current cost of equity is
Fund accounting and preparation of financial statements) The scenario: At the start of the year beginning January 1, 2013, Coco City's General Fund had a cash balance of $40,000, v
During it's first year of operations, Rosa Corp has these transactions pertaining to its common stock. Jan. 10 Issued 30,000 shares for cash at $5 per share July 1 Issued 60,000 sh
After the accounts are adjusted at the end of the year, Accounts Receivable has a balance of $215,000, Uncollectible Accounts Expense has a balance of $17,500, and Allowance for Do
I see a question posted. I can I be sure the problem has been solved. I tried calling your number but I got no answer
MAINTENANCE Trustees may pay to the parent or guardian out of income of a fund held on the trust for an infacnt reasonable sums for his maintenance and education, having regard
Procedure after Winding-up Order 1. A copy of the order must be filed by the company with the registrar s.227. 2. The company must deliver a statement of affairs to the Offici
Voluntary settlements The trustee can claim all property settled by the bankrupt on other persons within two years preceding the bankruptcy unless made: a. Before and in consi
In actual life cash flows occurring above a period of time are frequently uneven. For illustration, the dividends declared through the companies will change from year to year, as s
Continuing growth of the company has required that we issue the company's corporate debt soon. As you know, in 6 months we plan to issue $10 million worth of 20-year corporate bond
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