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Q. Explain about stable dollar assumption?
In the United States accountants make one more assumption regarding money measurement that the stable dollar assumption. Under the stable dollar assumption the dollar is accepted as a sensibly stable unit of measurement. Therefore accountants make no adjustments for the changing value of the dollar in the primary financial statements.
Using the stable dollar assumption creates a complexity in depreciation accounting. Presume for instance that a company acquired a building in 1975 and computed the 30-year straight-line depreciation on the building without adjusting for any changes in the value of the dollar. Therefore the depreciation deducted in 2008 is the same as the depreciation deducted in 1975. The company makes no adjustments for the dissimilarity between the values of the 1975 dollar and the 2008 dollar. Both dollars are treated as equivalent monetary units of measurement despite substantial price inflation over the 30-year period. Business executives and Accountants have expressed concern over this inflation problem especially during periods of high inflation.
In Exhibit the accurately stated ending inventory for the year 2009 is USD 35000. As a result Allen has a gross margin of USD 135000 as well as net income of USD 50000. The stateme
Hello, I'm having trouble understanding Direct Cost, Overhead Cost and Indirect Cost. ***Also Period cost and Product cost. please can anyone explain it and give examples for eac
Explain about the payroll register This is a summary of gross earnings, deductions and net pay for all employees for a specific payroll period. Register illustrates all amounts
AL MASA a sole trader,decided to install a new machine to use within her sole trader business
Q. Explain horizontal analyses and using the financial results? The computation of dollar and or percentage changes from one year to the next in an item on financial statements
Weston Corporation manufactures a product that is available in both a deluxe and a regular model. The company has made the regular model for years; the deluxe model was introduced
Q. What is Working capital? Working capital -- current assets minus current liabilities. In most businesses majorcomponents of working capital are cash, accounts receivable and
Acme Inc. has total liabilities of $120,000, total sales of $80,000, net income of $12,000, current assets of $90,000 and total assets of $150,000. What is the debt to equity rat
Q. Example of perpetual inventory procedure? The Perpetual inventory procedure Companies use perpetual inventory procedure in a range of business settings. In the past companie
Q. Explain Accounts payable? Accounts payable are amounts owed to suppliers meant for goods or services purchased on credit. Accounts payable are usually due in 30 or 60 days a
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