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Prove that accounting equation is satisfied in all the following transactions of Mr.X
1. Commenced business with cash - Rs.80,000 2. Purchased goods for cash - Rs.40,000 and on credit Rs.30,0003. Sold goods for cash - Rs.40,000 costing Rs.25,0004. Paid salary - Rs.2,000 and salary outstanding Rs.1,0005. Bought scooter for personal use for cash at Rs.20,000
Question: Lucy Kim is in the car hire business. The following information came from her Fixed Asset Register on 31 December 2009: On 31 March 2009, she sold the car wh
When Lydia started her vending machine business, she instituted flexible budgeting for the first few months of operations. Her first monthly budget numbers were these: Cost of g
On May 15, 2010, Your Corporation acquired an airplane (5 year recovery period, 6 year class life) for $1,450,000. Its qualified business use is 54%. Determine the maximum cost rec
WILL SOMEONE PLEASE ASSIST ME WITH THIS ASSISGNMENT Preview Company, a diversified manufacturer, has five divisions that operate throughout the United States and Mexico. Preview ha
Q. Bento, Inc. had 500,000 shares of common stock outstanding before a stock split occurred, and 1,500,000 shares outstanding after the stock split. The stock split was a. 2-for-5.
LIQUIDATION OF COMPANIES (a) Methods of Winding Up: A company may be wound up:By the court, Voluntarily, either as a members' or a creditors' winding up; or Subject to the s
Five years ago Ramon Millan quit his job as an associate at a large law firm and opened a burger joint in Malibu. His innovative use of aged blue cheeses and specialty sauces resul
Q. Which one of the following is not necessary in order for a corporation to pay a cash dividend? a. Adequate cash b. Approval of stockholders c. Declaration of dividends by the bo
State the Economic benefit of having accounting information Economic benefit of having accounting information is even harder to assess. It's possible to implement some 'scienc
Wendy is evaluating a capital budgeting project that should last for 4 years. The project requires $ 800,000 of equipment. She is unsure what depreciation method to use in her anal
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