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ABC Lmited issued Rs 10,000, 12% debentures of Rs 100 each payable Rs 30 on application and remaining amount on allotment. The public applied for 9,000 debentures which were fully allotted, and all the relevant allotment money was duly received. Give journal entries in the books of ABC Ltd., and exhibit the relevant information in the balance sheet.
What is the meaning of "discounted value of expected net receipts" and what basis of valuation for Ferry's patents would be generally accepted in accounting?
On February 15, 2013, Leo purchased and placed in service a new car that cost $23,750. The business use percentage for the car is always 100%. He does take the additional first-year depreciation. What MACRS convention applies to the new car?
q1. richard company purchased a building on a tract of land and allocated the entire cost of the purchase to building.
WyCo has the following account balances: Purchase Returns $19,000; purchases $812,000; Purchase Discounts $8,000; Begging inventory $21,000; Freight In $30,000; and ending inventory $37,000. WyCo 's cost of goods sold is ?
Non-profit’s board does not receive any direct benefit from the success of its business. In for-profit companies the stakeholders receive some financial benefit from the company’s successful goal achievement. What does everyone think about this state..
Posting of journal entries to appropriate accounts and prepare an unadjusted trial balance and Bill transferred $15000 from personal account into business account
Prepare a personal balance sheet using the format you have learned for a classified balance sheet for a company. For the equity account, use M. Y. Own, Capital.
What arguments can be raised to support the "politicization" of accounting rule-making and what arguments can be raised against the "politicization" of accounting rule-making?
Indicate the effect of each transaction on the accounting equation by listing the numbers identifying the transactions
Your boss has asked you to look into purchasing a plot of land on which to build an office. Your company does not want a real estate broker involved, and he trusts you to get the job done. You go to the local hall of records and ask to see the land m..
On January 1, Flimsy declared a 5% stock dividend on its common stock when the market value of the common stock was $15 per share. Stock dividends were distributed on January 31 to shareholders as of January 25.
Davenport Mills is a division of Iowa Woolen Products, Inc. For the most recent year, Davenport had net income of $19,900,000. Included in income was interest expense of $1,430,000.
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