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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.
the salaries paid in 2004 is rs. 500000 salaries outstanding is rs.20000 salaries paid in advance for 2004 is rs 30000 what is the actual salary expenditure for 2004?
WyseFinance maintains a non-current asset register for recording information for non-current assets for a business. The business is registered for VAT. The following is a purcha
Rules of intestacy:leaves several wives The intestate leaves several wives, married under any system of law which permits polygamy. His personal and household effects and the r
The appropriate treatment of Cash flow in respect of the following items as per US GAAP & FASB - (230-10) 1. Receipt of Insurance settlement proceeds of $2 mill. From an intern
FINAL ACCOUNTS As pension funds are set up for a specific purpose, and not for trading, we do not prepare the normal trading profit and loss account or the balance sheet. The p
Need: a. Prepare an Income Statement by with appropriation account for the financial year ended 31.12.2010 b. Prepare the partners' present a
Q. Show the Management Report? Management's Report - Management is essential to include in its annual report its assessment of the effectiveness of the company's internal contr
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
Once credit has been extended it is vital to ensure that customers abide by agreed terms of trade. Regular checks on customer accounts for instance using an aged receivables analys
provide 5% for doubtful debt what is the journal entry
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