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Change in profit sharing ratio When there is a change in profit sharing ratio, it means that some of the partners will get higher profits based on the new ratios in the future wh
1. Consider the following balance sheet: Best Care HMO Balance Sheet June 30, 2007 Assets / Current Assets*
Procedure after Winding-up Order 1. A copy of the order must be filed by the company with the registrar s.227. 2. The company must deliver a statement of affairs to the Offici
James Bell plans to stay at the Michaels Motel for one month, and he prepays his room charges. Bell arrives and begins his stay on January 21. To account for Bell's prepayment, at
what are types of accounting concepts
Q. Evaluate Break-Even Production units? R.S. Manufacturing Ltd. Budgets production of 3,00,000 units at cost of Rs.10 each. The Fixed costs are Rs.20, 00,000. The selling pric
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it is for what purpose?
On January 1, 2010, Jacob issues $800,000 of 9%, 13-year bonds at a price of 96½. Six years later, on January 1, 2016, Jacob retires 20% of these bonds by buying them on the open m
SYSTEM ONE-THE HEAD OFFICE MAINTAINS ALL THE ACCOUNTS This system is suitable for an enterprise that has small branches (possibly in another area of the town or city where the
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