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The matching rule is applied a. because it is required by the Internal revenue Code b. by expensing certain items immediately and in their entirety c. to help make the bookkeeper's
an asset has a useful life of 4 years.If it is depriciated by diminishing balance method.Its book value at the end of 4 years is 24% of its original cost.Hence the rate of depricia
You are the Genesis accountant and have taken a class recently in financing. You agree to prepare a PowerPoint presentation of approximately 6-8 minutes using the examples and info
Revenue expenditures 1. Are additional costs of plant assets that do not materially increase the asset's life or its productive capabilities 2. Are known as balance sheet expenditu
PROPERTY TRANSFERRED BEFORE BANKRUPTCY (a) Voluntary settlements : The trustee can claim all property settled by the bankrupt on other persons within two years preceding the
What have been the dividends per share? What is the CAGR of dividends per share from 2008 to 2010? What was the retention ratio for 2008 to 2010? Calculate the DPS growth
Partners F and G receive an interest allowance of $10,000 and $15,000, respectively, and divide the remaining profits and losses in a 3:1 ratio. If the company sustained a net loss
Explain:- Q.1 Explain the ways in which the needs of internal and external users of accounting information are the same and different. Q.2 Why is it important for financial sta
At year-end (December 31), Chan Company estimates its bad debts as 0.30% of its annual credit sales of $753,000. Chan records its Bad Debts Expense for that estimate. On the follow
a) A Treasury bond that matures in 10 years has a yield of 6%. A 10-year corporate bond has a yield of 8%. Suppose that the liquidity premium on the corporate bond is 0.4%. What is
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