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48 Morgado Inc. has provided the following data to be used in evaluating a proposed investment project: Initial investment $130,000 Annual cash receipts $78,000 Life of th
During 2011, Lavina Corporation had cash and credit sales of $94,000 and $91,000, respectively. The company also collected accounts receivable of $53,400 and incurred expenses of $
GROUP STRUCTURES A group structure is the relationship between the holding company and its subsidiaries. There are normally four main types of group structures (apart from the
Differences in Inter company balances i) Cash in transit Where one company may have sent cash which is yet to be received by the other company as at the end of the financia
WILLS A will is the legal declaration by a person of his wishes or intentions regarding the disposition of his property after his death, duly made and executed according to the p
On January 7, 2016, Captec Company purchased $4,175 of supplies on account . In Captec Company’s chart of accounts , the Supplies account is No. 15, and the Accounts Payable accoun
wrote check to purchase law books for 2500 what 2 accounts
Assume that you are interested in understanding how much must be saved regularly over a period of time in order that at the ending of the period you have a particular amount. To an
Pre-acquisition losses in subsidiary company on date of acquisition If the subsidiary company has a loss on the date of acquisition i.e. a debit balance in the retained profits
Comprehensive Basis of Accounting (OCBOA) - Consistent accounting basis other than GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP) used for financial reporting. Illustrations compr
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