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Investments under the Trustee Act The act defines the categories of investment as follows: 1. Fixed interest securities are: Securities which under their te
Which of the following actions are most likely to directly increase cash as shown on a firm's balance sheet? Explain and state the assumptions that underlie your answer. 1. It i
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
Explain the mechanism that states use to prevent the double taxation of the income of a corporation doing business in two or more states.
Safety Stock What must be the level of safety stock? In a simple condition where merely the usage rate is variable and the maximum usage rate can be given, the safety stock nee
Dividends During the year, the company paid a dividend of Sh.2 per share on the ordinary share s outstanding and Sh.1 on the preference shares outstanding. The company is now pr
From the information provided, determine: 1.) The amount of retained earnings at December 31 and 2.) The amount of revenues for the period. Additional data: 1.)Expenses
Steps for preparing Final Accounts The following steps should be followed in preparing the final accounts where we have a foreign branch. 1. Update the trial balance of the br
50. In preparing a company's statement of cash flows for the most recent year on the indirect method, the following information is available: 52,000-Net income for the year 18,00
Effect of Transactions on Cash Flows State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows: 1. Sold e
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