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A contingent liability is an obligation that depends on the occurrence of a future event and that should be recorded in the accounts:o words limits.
at the end of year 1 lane co. held trading securities that cost 86000 and had a year-end market value of 92000. during
Calculate what the balances will be in the Unearned Magazine Revenue and Magazine Revenue accounts?
What is share premium account? if we have some amount in sharepremium account how can we utilse it? are there any accounting standards for this?
butterfly tractors had 15.50 million in sales last year. cost of goods sold was 8.30 million depreciation expense was
On that date, when the market price of Matile was $14 per share, there were 270,000 shares of Stinson outstanding. What gain and net reduction in retained earnings would result from this property dividend?
willkom corporation bought 100 percent of szabo inc. on january 1 2009 at a price in excess of the subsidiarys fair
brandon computer timeshare company entered into the following transactions during may 2008.1. purchased computer
1.given the following information determine the cost of ending inventory at december 31 using the fifo perpetual
Discuss whether you feel the lower of cost or market rule (LCM) is a conservative method or not. Support your argument with points incorporating the conceptual framework or your textbook.
marshalls company reported the following results from the sale of 10000 units in may sales 368000 variable costs 146000
Journalize the adjusting entry required at June 30, the end of the first month of the current fiscal year, to record the accrued product warranty.
pro sports inc. manufactures basketballs for the national basketball association nba. for the first 6 months of 2008
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