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Quasi-Reorganization - Type of reorganization in that, with shareholder approval, management revalue ASSETS and eliminates DEFICIT (increased by asset devaluations if any) by charging it to other EQUITY accounts without creation of a new corporate entity or without court intervention.
Accounting treatment of deferred tax The objective of accounting for deferred tax is to ensure that the profits for the period d onto fluctuate due to temporary differences. To a
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
The following details are taken from the accounting records of the company as at 30 June 2010: Debit Credit Sales revenue 49,950,000
An individual is currently working 40 hours per week, earning $10 per hour. He loses his job and successfully applies for unemployment insurance. The insurance plan works as foll
TRUST ACCOUNTS (a) Object of trust accounts : To demonstrate that the trust funds have been applied in accordance with the trust instrument; To give details of tra
how do you record this transaction? May 18 Issues 30,000 additional shares of $2 common stock for $75 per share. May 25 Issue 8,000 shares of preferred stock for $125 per sha
Payback Period and Net Present Value XYZ Software, Inc., has the following mutually exclusive projects. Year Project A Project B
Level of detail Financial accounting reports provide users with a comprehensive overview of performance and position of business for a period. Consequently, information is aggr
Receiver necessary statement The receiver may, if necessary, require the statement to be submitted by: Past or present officers of the company Persons who have taken
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