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Accounting for Partnerships
The owners’ interests in the business are divided into long term and short-term interests. (Long-term interests refer to original capital commitments and changes thereon. Short-term interests refer to shares of annual profit and amounts therein withdrawn). The long-term interests are shown in a capital account whereas short-term interests are shown in a current account.These accounts are kept in a T-form for examination purposes, a separate column being kept for each partner.
A small airline company called Mancunian Airways (MA) is considering purchasing a new jet, which will be used solely on the new route: Manchester, Paris, Madrid and back to Manch
What is implication of applying accounting concepts wrongly.
Peter has worked for five years as an assistant accountant for a large garage and vehicle repair workshop. In the past two weeks he has noticed that one of the managers, Simon, ha
Presentation and hearing The petition is presented to the court and must be served on the debtor at least eight days before the hearing. If the debtor wishes to oppose it he mu
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Necessary things for Receivership If no power to appoint a receiver is given by the terms of issue, the trustee for the debenture holders, or a debenture holder acting on behal
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Pinapple Inc. is deciding how to price its two lines of laptops, one of which is a light one for travel (which is called Light) and the other is a powerful one (called Power). Thes
SE CTION A QUESTION 1: Below is a trial balance of a manufacturer of boots for the local market. Trial balance as at 31st December 2012 Dr Rs
Consider the expected return and standard deviation of the following two assets: Asset 1: E[r1]=0.1 und σ1=0.3 Asset 2: E[r2]=0.2 und σ2=0.4 (a) Draw (e.g. with Excel) the
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