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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
Qualified Opinion - AUDIT opinion which states, except for effect of a matter to which a qualification relates, FINANCIAL STATEMENTS are fairly presented in accordance with GENERAL
The twin objectives of inventory management are financial and operational. The operational objective implies that the materials and spares would be obtainable in sufficient quantit
Who are the users of accounting information? For accounting information to be useful, accountant should be clear for whom the information is being prepared and for what purpose
What is the net present value of a project that requires a net investment of $76,000 and produces net cash flows of $22,000 per year for 7 years? Assume the cost of capital is 15 p
Beginning balance 24,000 cash Sales 250,000 Gross profit 45% of sales Accounts receivable increase by 24,000 Accounts payable increased by 51,000 Inventory increased by 98,000 Sell
Zoum Corporation had the following transactions during 2014: 1. Issued $125,000 of par value common stock for cash. 2. Recorded and paid wages expense of $60,000. 3. Acquired land
Q. Show the Basis of weightings? (i) Both costs of capital (Ke and Kd) as well as the WACC have been calculated using current ex-dividend (ex-interest) market values rather t
Q. What do you understand by Partnership? Partnership - Relationship between two or more persons based on anoral, written or implied agreement whereby they agree to carry on a
In the above illustration we have consider how the future value modify along with the modification in frequency of compounding. So as to understand the relationship among effectual
Budgetary Control is a technique of managerial control through budgets. Elaborate.
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