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Q. Prior period adjustmentsa. may only increase retained earnings.b. may only decrease retained earnings.c. may either increase or decrease retained earnings.d. do not affect retained earnings
Q. Theoretical value of shareholding? (i) Theoretical value of shareholding Theoretical ex-rights value = ((No. shares in issue×Market value) + (No. rights shares× righ
Mr. Inherits 30000. Decides to open a salon jj salon. On 1/4/2016 commits 10000 to the business Opens an a/c in the bank What will be the money under capital in his books on 1/4/10
how do I calculate the adjusting balance
Promissory Note - Evidence of a DEBT with specific amount due and interest rate. Note may specify a maturity date or it may be payable on demand. Promissory note may or may not acc
A gift of residue Where property is not given by a specific legacy nor by a general legacy, it makes up the residue of the testator's estate. If the testator fails to make a g
Q. Describe about Capital Stock? Capital Stock - Ownership shares of a CORPORATION authorized by its ARTICLES OFINCORPORATION. Money value assigned to a corporation's issued sh
Profits in subsidiary company The remaining profits that belong to the holding company should be split between pre-acquisition profits and post acquisition profits. The pre
Peter has worked for five years as an assistant accountant for a large garage and vehicle repair workshop. In the past two weeks he has noticed that one of the managers, Simon, ha
1. What cost flow assumption does the company use to value inventories? 2. What was the amount of expense that the company reported for inventory write-downs during 2011? 3
prepair two adjusting entries
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