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1. Think about the transactions listed below.a. A company obtains a $10,000 loan from a bank.b. A company purchases $15,000 of inventory from its suppliers. They paid $5,000 today and will pay the reminder at a later date.c. A company makes a $20,000 sale. The customer will pay in 30 days.For each transaction:i. What accounts would be impacted?ii. Would those accounts increase or decrease?iii. What would you debit and what would you credit if you were doing a journal entry?
Distribution to a beneficiary Before distribution to a beneficiary, the investments will be re-valued and the profits or losses divided between the beneficiaries as follows:-
Received 10,000 contribution from bill london in exchange for common stock What 2 accounts are used
profit and loss account
are the notes to the financial statements part of the financial reporting
How to treat them both which affect the trial balance and which dont affect the trial balance
RETAINED PROFITS BROUGHT FORWARD If we recall from the consolidated balance sheet, the group-retained profits should be made up of the holding companies retained profit plus the
Heathrow issues $2,000,000 of 6%, 15-year bonds dated January 1, 2011, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $2,447,990.
Trustee's duties in administering the D of A 1) To carry out the trusts of the D of A and to distribute the property assigned to him in accordance with the provisions of the D of
COMMITTEE OF INSPECTION Appointment : A committee of inspection may be appointed by the creditors at their first or any subsequent meeting to supervise the trustee.
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
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