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Terry Corporation had 300,000 shares of common stock outstanding at December 31, 2010. In addition, it had 90,000 stock options outstanding, which had been granted to certain execu
XYZ Municipality purifies water before it enters the reticulation network. There are presently 3 purification processes available to the municipality. These processes sre referred
ACCOUNTANCY PRINCIPLES (GAAP - GENERALLY ACCEPTED ACCOUNTING PRINCIPLES) Accounting values, rules of conduct and action are explained by a variety of terms for instance convent
provide for depreciation at 10%p.a at cost for equipment and 15% at book value for vehicles
Tony is a salesperson at a local auto showroom. He asks you to assist him in developing a tool for calculating purchase and lease payments. He has already developed a draft of the
Provisions of the Partnership Act In the event of absence of a partnership agreement/deed or in the event of ambiguity therein, the provisions to the partnership Act will apply
Legal Aspects There is no law relating to branch accounts but examination problems under this heading are frequently linked to either partnership or company account problems. Ans
Assets 1) The classification of investments in the Balance Sheet will be under a few broad headings with schedules listing the individual assets. Where the Trustees Act has been
International Accounting Standards Committee, the (IASC) - is an independent private sector body, formed in 1973, with objective of harmonizing the accounting principles that are u
Revenue expenditures 1. Are additional costs of plant assets that do not materially increase the asset's life or its productive capabilities 2. Are known as balance sheet expenditu
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