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Q. Illustrate Exchange-price concept?
Exchange-price (or cost) concept (principle). The majority of the amounts in an accounting system are the objective money prices determined in the exchange process. Consequently we record most assets at their acquisition cost. Cost is the sacrifice made or else the resources given up measured in money terms to acquire some desired thing such as a new truck (asset).
If Alisha Maintenance manufacturing has: total maintenance cost of $2,785,000 total fixed maintenance cost of $310,000 total variable maintenance cost of $2,475,000 total m
stpes to be taken prepaing for final accounts
tugade ,masinsin and biore are all famous athletes who have been operating a sports memorabilia store for how many years .The partnership decided to liquadate its operation rather
hello, i am in Malaysia and try to reconcile a bank statement in USD. I am confuse on which currency should i follow to enter the bank transactions. If follow in USD, i could not
Birch issued 200 shares of $12 par common stock in exchange for a piece of equipment with a current market value of $3,000.Whichof the following is not part of the journal entry
Under both GAAP and tax depreciation, an asset cannot be depreciation until it has been
Q. Explain about Accountants record expenditures? Accountants record expenditures on physical resources such like buildings, land and equipment that benefit future periods as a
Q. What is classified balance sheet? The balance sheets we presented thus far have been unclassified balance sheets. An unclassified balance sheet has three major categories li
On January 1, 2012, Bartell Company sold its idle plant facility to Cooper Inc. for $1,050000. On this date, the plant had a depreciated cost of $735,000. Cooper paid $150,000 ca
Q. Financial accounting versus managerial accounting An accounting information system offers data to help decision makers both outside and inside the business. Decision makers
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