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Investment of accumulated income
The income accumulations must be invested from time to time and the investments earmarked as being on Accumulations Account.
The income arising on accumulation investments should be credited to Income Accumulations Account and divided between the infants in proportion to the balances on Accumulations Account at the commencement of the year.
It will be appreciated from the above that the Income Accumulations Account is merely an income account ruled with columns to distinguish the income belonging to each beneficiary. The total balances on this account will be represented by Accumulation Investments and cash at bank.
You have recently been promoted to assistant audit manager in SHAUNA & Co, a firm of Chartered Certified Accountants. Your first assignment in this new role is to supervise the aud
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What would be the effect on the balance sheet if adjustments (a) and (f) were omitted at the end of the year?k question #Minimum 100 words accepted#
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Consider the following 2008 data for Newark General Hospitals (in millions of dollars Simple Budget_______Flexible Budget_ Actual Budget__ Revenue______$4.7$____4.8_____$4.5_
Aristo Ltd uses a system of absorption costing. The product passes through a machining department and an assembly department before it is completed. The assembly department is labo
Ask question Sean Corp. issued a $60,000, 10 year bond at the face rate of 8% annually on 1/1/X0. The market rate was 10%. How much cash will the bond investors receive at the end
what is labour variance?
Troubled Debt Restructuring - Agreement between CREDITOR and DEBTOR which amends the terms of a DEBT which has little chance of being paid in accordance with its contractual terms.
I need some guidance in how certain events are to be recorded on both the balance sheet and statement of cash flows.
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