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1. From your review of note 3.7, how does the company determine whether a sale has occurred?
2. Using the consolidated income statement and consolidated statement of financial position identify TWO items that may result in adjusting entries for deferrals.
3. Using the consolidated income statement, identify TWO items that may result in adjusting entries for accruals.
4. Is Zetar Plc using a multiple-step or a single-step income statement format? Explain how you made your determination.
5. What is the approximate tax rate of Zetar Plc's "Tax on profit from continuing activities?"
6. Using the notes to Zetar Plc's financial statements, explain what each of the following are:
a) Adjusted results
b) One-off items
Below is the Trial Balance for Clay Employment Services, year ending December 31, 2011. Previous period's information were as follows: net receivables, $290,000 and inventory, $82
1. What cost flow assumption does the company use to value inventories? 2. What was the amount of expense that the company reported for inventory write-downs during 2011? 3
DO ACCOUNTANTS EVER REALLY MAKE IMPORTANT DESIONS?
Effect of Winding-up Order The consequences of a winding-up order are: 1) Any disposition of the company's property and any transfer of shares is void, unless the court otherwis
Litigation Support/Dispute Resolution - A service that CPAs every so often provide to attorneys -for example expert testimony about the value of a business or other asset, for
single-audit
Retirement of a partner When one of the partners retires ante the others will continue trading, the n it is important that he gets a share of the goodwill that he helped create i
Q. Determine Annual effective cost? (i) Payables policy One month cost of taking extended trade credit = 1.5/98.5 = 1.52% Annual effective cost = 1.015212-1 = 19.8%
is it true that deficit is an asset?
For this question you will use the dataset "murder.xls", which includes: • rate = Murder rate per 100,000 • convictions = Number of convictions divided by number of murders • execu
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