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Accounting PoliciesThese financial statements have been prepared under the historical cost basis of accounting which is modified to accommodate the revaluation of certain property, plant and equipment.Property, plant and equipment are stated in the accounts of cost or revalued amount less accumulated depreciation. Depreciation is based on the estimated useful life of the asset and is provided at the following rates:Assets RateLand No depreciationBuildings 2 % on costPlant and machinery 20% on costFixtures, furniture and fittings 25% on costMotors vehicles 30% on reducing balanceInventory is stated at the lower of cost and net realizable value. Cost represents the purchase price or production cost and other expenses incurred to get the inventory ready for sale. Net realizable value is the selling price of the inventory less other expenses that will be incurred to get he inventory ready for sale.
Antitrust Laws - Assignment Help One of the foundations of business within the United States is the freedom to compete in the marketplace; however, certain laws have been creat
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In no more than one typed page, provide a statement of your decision to invest or not invest in this company's stock based on your interpretation of the company's long-term prospec
Liquidity Ratios - These ratios include the Current Ratio and the Quick Ratio or the acid test ratio. Liquidity ratios show the Liquid position of a company in the short term i.e
a) Your company is planning to take $1,750,000 on a 3-year, 10%, annual payment, fully amortized term loan. What fraction of the payment made at the end of the second year will sho
Q. Corporate Enterprise group? In order to have better and systematic participation of labour in management for improvement in working of Railway system and appropriate changes
Prepare Partial Income Statement through FIFO, And LIFO Methods The records of XYZ Restaurant Supply include the following accounts for cases of coffee cups at December 31 of t
On December 31, 2014, Santana Company has $7,194,600 of short-term debt in the form of notes payable to Golden State Bank due in 2015. On January 28, 2015, Santana enters into a re
Question 1 What is accounting and book keeping? Explain the objectives of accounting? Question 2 Explain GAAP and write down the relationship between accounting principles, a
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