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1) The accounting system is also appropriate for departmental accounts.
2) The branch stock account is a practical means of controlling stock at the branch. Supervisors can quickly ascertain the selling price of stock at a branch and compare this with the balance shown in the head office books. Such spot checks will bring to light:
3) This method prevents branch staff from knowing the cost of goods being sold and preserves secrecy with regard to profits.
4) Ascertaining the percentage or fraction to deduct from invoice price may cause some students difficulty. No doubt it is appreciated that the percentage to be deducted from the selling price is not the same as that which is added to cost, e.g. If 33 1/3% is added to cost to arrive at invoice price then 25% must be deducted from selling price to get back to cost.
Mr N. M. is lucky to have a lottery prize of Rs 20 million. He does not have any liability and does not have any claimant over this money. He has the following alternatives: (i)
for a typical manufacturing company, the most common critical point for recognizing revenue is the date a an order is recieved b. production is completed c the product is delievere
Ask questiJohn’s away at the moment, and his email provider has a size limit on the data that can be sent via email. What is a potential solution for John, and name a provider that
The maximum possible loss method Under this method, a table is set up to compute the amounts payable to each partner. The results of the computation may be then posted into the
Using CAPM's formula, Return on equity = Risk-free rate + Beta*(Expected market return - risk-free rate) With the given information, Return on equity = 1% + 1.7*(9% - 1%)
What would be the effect on the balance sheet if adjustments (a) and (f) were omitted at the end of the year?k question #Minimum 100 words accepted#
5 accounting techniques
The standard EOQ model supposes that materials can be procured immediately and thus implies that the firm may place an order for replenishment as the inventory level drops to zero.
During FY 2014, the voters of Surprise County approved construction of a $21 million police facility and an $11 million fire station to accommodate the county's population growth.
FOREING BRANCHES The head office my set up a branch in a foreign country. IAS 21 requires that the results of that foreign branch to be translated into the local currency for t
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