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Q. What is Inventory obsolescence?
Inventory obsolescence -- inventory no longer salable. Possibly there is too much on hand,possible it is out of fashion. True value of the inventory is hardly ever exactly what is shownon the balance sheet. Every so often, there is unrecognized obsolescence.
Q. Describe about Cash role in balance sheet? Cash includes deposits in banks obtainable for current operations at the balance sheet date plus cash on hand consisting of un-dep
the Dwyer corporation incurred costs of 114000 in purchasing a process which it eventually had patented. The patent was issued on July 20x1. To secure the patent, an additional 6
solutions for chapter 8
A firm is evaluating two machines. The first costs $250,000 and will require annual maintenance of $30,000 per year for 10 years. At the end of 10 years, the salvage value will b
How do you round up to one decimal point using percentages? Example 0.207 Thanks
Q. Common deductions from gross sales? Generally sales are for cash or on account when a sale is for cash the debit is to Cash and the credit is to Sales. While a sale is on ac
norman co borrows $15,000 with a 8%interest 38,000 account receivable paid $26,000 salary
It is reduction of taxes where from the income is produces and regarding services to be taxed there are about 120 services which are taxed in India for provision of service tax
Q. Summary of significant accounting policies? As part of their annual reports companies comprise summaries of significant accounting policies. These policies help users in int
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