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As an asset
The argument for this statement is that the survivorship policy is an investment because eventually the partnership will receive either the surrender value or the sum assured an thus the premium should not be expensed but carried as an asset.Relevant entries DR. Life policy asset account CR. Cash book
WHAT IS dEPRECIATION?
Determine total payment: Mrs. Smith is a 70-year-old and hospitalized for a Kidney Transplant procedure . General Hospital is a large urban hospital in San Francisco that
A sound foundation is necessary for success in any task from building a house to putting on make up. In terms of U.S Accounting standards it is necessary to have a sound foundation
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
The government of a country has just issued a series of zero-coupon bonds maturing at the end of years 1, 2, 3 and 4. Suppose the spot rates (or continuously compounded yields per
Explain:- Q.1 Explain the ways in which the needs of internal and external users of accounting information are the same and different. Q.2 Why is it important for financial sta
Courts application for grant A court may: 1) Wherein a deceased person is proved whether by production of a will or authenticated copy of the will or by oral evidence of its
Personal representatives duties Personal representation has the following duties; 1) To provide and pay out of the estate of the deceased, the expenses of a reasonable funeral
Q. Evaluation of Net working capital? The evaluation presumes that several key variables will remain constant such as the inflation rates, discount rate and the taxation rate.
Amortized Payment You purchase a house that costs $800,000 with an 8%, 30-year mortgage. You make a 20% down payment to avoid PMI insurance. (i) What is your monthly paymen
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