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Question:
Part A:
Briefly explain the term "depreciation" and give three reasons why do we need to provide for depreciation on fixed assets during a financial year.
Part B:
The following information is available for the year ended 31 December 2007 for Rooney Ltd:
Provision for depreciation (as at 01 January 2007) Rs 25,000 Fixed Assets at costs (as at 01 January 2007) Rs 125,000
Fixed Assets acquired on 01 March 2007 Rs 50,000 Fixed Assets acquired on 01 April 2008 Rs 15,000 (a) Calculate the depreciation figure for the years ended 31 December 2007 and 2008 using:
(i) 20% straight line method of depreciation (ii) 20% reducing balance method of depreciation
(b) What will be the net book value of Fixed Assets as at 31 December 2007 and 2008 using both methods?
How does contribution margin work?
Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage.
#c
Acme Inc. has total liabilities of $120,000, total sales of $80,000, net income of $12,000, current assets of $90,000 and total assets of $150,000. What is the debt to equity rat
Cash Flow Analysis: As per the Institute of Cost and Works Accountants of India (AICWAI), a Cash Flow Statement is a declaration setting out the flow of cash under different
I have an accounting consolidation project due may 15th I seen a problem here with the exception of a few # changes was wanting a quote to help with this project
What is the implication of applying accounting concepts wrongly
How can price inflation effect a university negatively in the future? Like, what are a few things in the university that will be impacted?
A time of 12 consecutive months used by an organization to account for and report the results of its operations.
Q. Describe about Cash role in balance sheet? Cash includes deposits in banks obtainable for current operations at the balance sheet date plus cash on hand consisting of un-dep
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