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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?
Trade Sources of Information Within for instance the credit card industry it isn't uncommon for information on an individual's credit rating to be shared. In a alike vein withi
Retirement benefits 1) Provident fund and family pension: a. Contribution to PF and PPF are provided for and payments in respect thereof are made to the relevant
Trust - Ancient legal practice where one person (GRANTOR) transfers the legal title to an ASSET, known as principal or corpus, to another person (the TRUSTEE), with specific instr
A player for a Rice team, Jim Jones, is graduating this year and is considering a career in professional sports. The alternative is to work for two years and then attend business s
1.Which of the following is true? A. Land is depreciated using the straight line depreciation method B. Land is amortized using the declining balance method C. Land is depleted usi
Company conversion features If the formation costs are to be bourne by the company then the profit or loss on realization will be the same as the company then the new company (
The following items are found in the trial balance of M/s Sharada Enterprise on 31st December, 2000. 10 marks Summer 2013 Sundry Debtors Rs.160000 Bad Debts written off Rs 9000 Dis
A company does not need to record the receipt of a bill for utilities used during this year if they will not pay for it until next year. True or False
im doing compound interest my calculator doest have anxy butyx cant do nothing with the ten being the power of .9
Consolidated acccounts 1AS 27 therefore requires that the holding a company should include the financial results of the subsidiary company in its own financial statements. The
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