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1. This assignment is to be submitted as an individual assignment. 2. Marks will be deducted for poor quality presentation. For guidance on the requirements for the presentatio
Consider an asset that cost 100000 to acquire and has an estimated salvage value of 20000. The assets is to be depreciated over four years. At the end of four years, the asset is s
Realisation of assets 1. Divisible property : The ownership of the company's property does not vest in the liquidator (unless the court makes a vesting order: s.240); but
Fund Accounting - Method of ACCOUNTING and presentation whereby LIABILITIES and ASSETS are grouped according to the purpose for that they are to be used. Normally used by governmen
American Institute of Certified Public Accountants (AICPA) - National professionalmembership organization which represents practicing CERTIFIED PUBLIC ACCOUNTANTS(CPAs). AICPA esta
If you have 10,000 shares of common stock sold at $10 per share; and 100,000 shares authorized at $1 par value how would you show this on the balance sheet? Also if we issue 10,00
Cashflows from operating activities operating activities are the principle revenue generating activities of the business and examples of such cashflows include: Cash re
Illustrations of Income statement Profit/Loss on disposal of non-current assets Material write down or reversal of write down on assets e.g. PPE inventory and debtors.
Question: (a) ‘Public accounting is often called fund accounting'. Describe what you understand by the term ‘fund accounting'. (b) "What's the difference between nation
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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