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1.what are the various fields of accounting and how do they differ?
2. how are revenues and expenses affect the owners' equity account?
3. why are revenues and expenses recorded separately from the owner's equity account?
4. are adjusting entries used in an accrual basis accounting system or in a cash basis accounting system? Why?
The forecast income statements are as follows: WORKINGS Sales = 50000 × 1·12 = $56000000 Variable cost of sales = 30000 × 1·12 × 0·85 = $28560000 Fixed cost of sa
Relationship between these aspects is set out in Figure. Figure: The accounting information system There are four sequential stages of an
Suppose that Oxford Inc. is interested in the two new products, AME and CGK. Because of its capital budget constraint, it can only launch one new product line. Eric just graduated
Q. Explain about Tax Ramifications? i) Exercise price effects capital gains of individual and effects compensation expense used by corporation for calculating company's compens
The following costs were incurred in 2010 in the design and construction of a new office building over a nine-month period during 2010: Requirement Calculate the amount
Jaedan Industries has the following account balances as of December 31, 2010. The firm's dividend payout ratio is 25% and the tax rate is 34%. The firm's stock price on December
Prepare a master budget You have just been hired as a new management trainee by XYZ Limited, a distributor of earrings to various retail outlets located in shopping malls acro
Suppose that the one-period rate is 4%. Explain why a two-period rate of 6% cannot be an equilibrium when individuals expect the one-period rate to remain constant.
A company is considering the purchase of new equipment for $45,000. The projected after-tax net income is $3,000 after deducting $15,000 of depreciation. The machine has a useful l
In common terms the present value of a regular annuity may be shown as given below: PVNn = A/(1 + k) + A/(1 + k) 2 + ..................+ A/(1 + k) N = A (1/(1 + k) + 1/(
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