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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?
Creditors' voluntary winding up If no declaration of solvency is filed the winding up must take place under the control of the creditors. 1. Meeting of creditors : Th
Classifying expenses by nature Under this format, expenses are not classified by their nature i.e. referred to specifically according to their type and the major categories of ex
Suppose the interest rate for a one-period bond is 4%. (a) What is the price of an asset paying (1,1,1) which means 1 after 1 period, 1 after 2 periods, and 1 after 3 periods.
Suppose that the annual rate of interest is 4%. (a) What is the monthly rate? (b) Consider a 3-year lease on a car that is worth $20,000 today. The first payment on the lease
Aristo Ltd uses a system of absorption costing. The product passes through a machining department and an assembly department before it is completed. The assembly department is labo
Hi I am doing my thesis on IAS 40 and I''m sort of stuck with finding information. I need to find positive and negative international critique on the standard
I am facing some problems in my assignment of Seller, Buyer, Seller’s Bank, and Buyer’s Bank. Can anybody suggest me the proper explanation for it? a. Draw the diagram of the tr
unit selling price of products= $40 unit variable expense of product= $24 Total fixed expenses= 560,000 avg op assets= 3,000,000 1)how many units must the division sell each yea
Mojo Industries tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period, as if it uses a
You will gain welfare from consuming bread and chocolate. Your welfare is described numerically by W = 4B + 2C, where B denotes the quantity of bread you choose to consume, and C d
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