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Dunmore Coal and Iron purchased $1,000,000 in corporate bonds and 500,000 shares of common stock in its competitor, Olyphant Iron. Dunmore plans to hold onto the bonds until the maturity date six years from present. The stock will be sold directly after Oylphant's annual shareholder meeting three months from present. If Dunmore's fiscal year were to end today, how would the bonds and shares of stock appear on the classified balance sheet?
Q. Explain about full disclosure principle? The full disclosure principle states that information significant enough to influence the decisions of an informed user of the finan
Ower invested cash in the company along with equipment at market value, the amount is considered part of capital or revenues?
Q. Financial accounting standards boards conceptual framework? Experts have discussed the exact nature of the basic concepts and related principles composing accounting theory
Q. Define Current assets? Current assets are cash and other assets that a business is able to convert to cash or uses up in a relatively short period one year or one operating
Fixed Assets An additional categorization other than current or long-term is as well used for property. A "fixed asset" is an asset which is planned to be of a lasting nature a
Q. Steps used in retail inventory method? The retail inventory method approximation the cost of the ending inventory by applying a cost/retail price ratio to ending inventory s
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“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
UNITs UNIT COST UNIT SALE PRICE AUG 3 SALE 45 $ 83 8 PURCHASE 75 $ 52 21 SALE 70 $ 85 30 PURCHASE 10 $ 55 Decorative steel began August with 55 units of iron inventory th
what is the matching rule applied?
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