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The Bayside Company uses the LIFO cost flow method to value inventory. In the current year, profit at Bayside is running unusually high. The corporate tax rate is also high this ye
beginning inventory,purchase,and sales data for commodity A are as follows november 1 inventory 1500units @k20.00 2 sold 5000unit @ 40.00 12 purchase 10000 units @22
From the following details, prepare a balance sheet acid test ratio = 2.5 current ratio = 1.5 net working capital = 10,00,000 fixed assets =? Share capital =? Proprietary ratio =
What is the implication of applying accounting concepts wrongly
Q. Explain about Long-term investments? A long-term investment habitually consists of securities of another company held with the intention of (a) obtaining control of another
twhat is debit?
Q. Seasonality in sales? Based upon its operating record the company believes that its business is seasonal. Excluding the result of net sales, new store openings and earnings
Notes to financial statements
ABC Company uses cash basis accounting for its records. During 2010, ABC collected $400,000 from its customers, made payments of $300,000 to its suppliers for inventory, and paid
Suppose you want to have $5,000 saved at the end of five years. The bank will pay you 2% interest on your money. How much would you have to deposit today to have the $5,000 you w
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