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Q. Explain about Material event?
Subsequent Event - Material event which takes place after the end of accounting period and before the publication of an entity's FINANCIAL STATEMENTS. These events are disclosed in the notes to the financial statements.
Beginning balance 24,000 cash Sales 250,000 Gross profit 45% of sales Accounts receivable increase by 24,000 Accounts payable increased by 51,000 Inventory increased by 98,000 Sell
Below are excerpts from Safeway's 2010 Annual Report, including its Consolidated Balance Sheets, a portion of Note E, Lease Obligations, and Note H, Taxes on Income, from the Notes
Q. What is Materiality? Materiality - Magnitude of an omission or misstatements of ACCOUNTING information that, in the light of surrounding circumstances, makes it probable tha
Considering the following information, what is the price of the share as per Gordon’s Model? Details of the Company Net sales Rs.120 lakhs Net profit margin 12.5% Outstanding prefe
Q. Explain briefly the role of computers in accounting? Computers can be used as accounting machines and perform all the functions which accounting machines perform. Some of th
Which of the following procedures involves transferring amounts recorded in the general journal to ledger accounts? Answer a. preparing a tria
Shannon Kampa is in talks with Resul Ozbayrak Leaseco, a leasing company, to rent store space for new stores that Shannon is considering adding to her high-end natural foods chain.
Powers of investment 1. Shares and debentures: A trustee may: Invest in bearer securities if these would otherwise be authorised; Acquiesce in an amalgamation
Differences between estates and trusts Note particularly the following differences between estates and trusts:— 1. Estate: on the death of a testator or an intestate, all
What are the various strategies behind selected low (e.g., zero) or high coupon rates when issuing bonds?
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