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explain the terms recording,classifying,summarizing and communicating
Balance Sheets: contains the balance sheets as of December 31, 2010, 2009, and 2008. Accounting practice and tradition dictates that the most current year is placed nearest to the
EXECUTORS' ACCOUNTS (a) Stewardship : The main object or preparing Estate Accounts is to record the assets which have been entrusted to the "stewards" — the executors — and
Explain in detail about the Sole proprietorship Sole proprietorship, as the name suggests, is where an individual is the sole owner of a business. This type of business is ofte
Heather & Terry have a mortgage on their primary residence of $750,000 and a mortgage on their vacation home of $410,000. In 2013, they incurred $46,400 of mortgage interest expens
Harper Co. provided the following information concerning two products: contribution margin per unit- product 12 $46 Contribution margin per unit-product 43 $30. Machine hours requi
Q. What are Junk Bonds? Junk Bonds - DEBT SECURITIES issued by companies with higher than normal credit risk. Considered ‘non-investment grade' bonds, these SECURITIES ordinari
Question: Vinak Ltd., which produces three products provides you the following data for 2008-2009.
an asset has a useful life of 4 years.If it is depriciated by diminishing balance method.Its book value at the end of 4 years is 24% of its original cost.Hence the rate of depricia
Exceptions to the rule of lapse There is no lapse in either of the following cases: 1. Where the gift or disposition is made in discharge of a moral obligation recognised by t
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