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Posted Date: 9/24/2012 5:02:56 PM | Location : United States
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System one-the head office maintains all the accounts, SYSTEM ONE-THE HEAD ...
SYSTEM ONE-THE HEAD OFFICE MAINTAINS ALL THE ACCOUNTS This system is suitable for an enterprise that has small branches (possibly in another area of the town or city where the
A prior period adjustment, Q. A prior period adjustment that corrects incom...
Q. A prior period adjustment that corrects income of a prior period requires that an entry be made to a. an income statement account. b. a current year revenue or expense account.
Time for disclaimer-bankruptcy and liquidation, Time for disclaimer The...
Time for disclaimer The trustee may disclaim in writing at any time within twelve months of his appointment, or of becoming aware of the property, or such extended period as th
Situational Decsisions, Your Company makes 42,000 units per year of a part ...
Your Company makes 42,000 units per year of a part it uses in the products it manufactures. The unit product cost of this part is computed as follows: Direct material $15.00 Direc
Consequences of adjudication-adjudication of debtor, Consequences of adjudi...
Consequences of adjudication The consequences of the making of the adjudication order are: 1. The order must be advertised in the gazette and a local paper; 2. The ownershi
Plans to sell the forest, Washington-Pacific invests $2 million to take a t...
Washington-Pacific invests $2 million to take a tract of land and plant some young pine trees. The trees can be harvested in 13 years, at which time W-P plans to sell the forest at
What do you mean by earnings per share, Q. What do you mean by earnings per...
Q. What do you mean by earnings per share? Anti-dilution - Condition which may increase computation of EARNINGS PER SHARE (EPS)or decrease loss per share solely due to the incl
Express trusts-trusts laws and accounts, EXPRESS TRUSTS Creation...
EXPRESS TRUSTS Creation : An express trust is "created not by facts and circumstances, but by the express words of the settlor". (Fitzgerald v Stewart) Completely an
Pooling of interest, Pooling of Interest - Used to account for acquisition ...
Pooling of Interest - Used to account for acquisition of another company when acquiring company exchanges its voting COMMON STOCK for voting common stock of the attained company wh
Stock transactions, Brazil Corporation was organized on January 1, 1999. It...
Brazil Corporation was organized on January 1, 1999. It is authorized to issue 20,000 shares of 6%, $50 par value preferred stock, and 500,000 shares of common stock with a par val
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