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FORMAT FOR BALANCE SHEET
The non current assets, current assets and current liabilities sections remain identical to those of a sole proprietorship. However, the “capital section will change to reflect the capital contribution by each partner..Example of a balance sheet where there are 3 partners A, B and C.
Cost (Shs)
Depreciation (Shs)
NBV (Shs)
Land & Buildings
X
Fixtures & Fittings
Plant & Machinery
Motor Vehicles
XX
Investments, goodwill etc
Inventory
Receivables
Less provision for bad and doubtful debts
(X)
Prepayments
Bank
Cash
Payables
Accruals
Working capital (C.A – C.L)
Financed by:
Capitals: A
B
C
Current A/Cs: A
Long term loans
Identify the Depreciation Methods On January 3, 2005, XYZ Distribution Co. paid $224,000 for a computer system. In addition to the basic purchase price, the company paid a set
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What is the sales price of common stock when it was issued?
Courts application for grant A court may: 1) Wherein a deceased person is proved whether by production of a will or authenticated copy of the will or by oral evidence of its
APPLICABILITY OF THE OPERATING CYCLE IN VEGETABLE GROWING BUSINESS
what affects quick asset ratio
Part A: The following information relates to Company A's defined benefit pension plan during the current fiscal year: Plan assets (beginning of the year) $400 (all number are in $m
PVA ∞ = A(1 + k) -1 + A(1 + k) -2 +..... + A(1 + k ) ∞ + 1 + A (1 + k) ∞ Multiplying both the sides of Eq (a7) by (1+k) provides: PVA ∞ = (1 +k) = A(1 +k) +A (1 +k)
Igor and Angela were married in 2005, separated in 2011, and divorced recently. At the time of marriage, each had some investments and personal assets. They both worked during the
Q. Which one of the following is not necessary in order for a corporation to pay a cash dividend? a. Adequate cash b. Approval of stockholders c. Declaration of dividends by the bo
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