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On 1st April , 2010 Johny purchased five machines for $ 60,000 each. Depreciation @10% p.a. on initial cost has been charged from the Profit and Loss account and credited to provision for Depreciation account. On 1st April,2011 one machine was sold for $ 50,000 and on 1st April , 2012 another machine was sold for $ 50,000. An improved model costing $ 1,00,000 was purchased on 1st October , 2011. Johny closes his books on 31st March every year. you are required to show; i)Machinery account ii)Machinery Disposal account iii)Provision for Depreciation account.
Shea Company has 20,000 shares of 5 percent, $40 par value, cumulative preferred stock. In 2008, no dividends were declared on preferred stock. In 2009, Shea had a profitable year and decided to pay dividends to stockholders of both preferred and ..
you have won a lottery. you will receive 200000 after taxes each year for the next 5 years. describe the process you
Describe situations where you have effectively demonstrated each of the forms of communication mentioned. What did you do to help you communicate effectively?
examine the following book-value bal. sheet for university products inc. the preferred stock currently sells for 12.00
Indicate the effect of each of these errors on working capital, current ratio (assume that the current ratio is greater than 1), retained earnings, and net income for the current year and the subsequent year.
journalize the following transactions using the allowance method of accounting for uncollectible receivables. april 1
an organization makes and sells one product. if the target net profit for the month is 26000 monthly fixed costs are
the jackson timberlake wardrobe co. just paid a dividend of 1.45 per share on its stock. the dividends are expected to
assume the facts in the preceding exercise except that zeile company has chosen not to accrue paid sick leave until
After thirty days, Primo's did not have the cash for payment; therefore, Primo's offer Mulkey a four-month note with 11.5% interest, all payable at the end of the term of the note. Please record the appropriate journal entry establishing the note ..
paymore products places orders for goods equal to 80 of its sales forecast in the next quarter. the sales forecasts for
John Stantus, single, is the sole owner of Stantus Accounting Services, Co. He started the company, which is organized as a sole proprietorship, on February 10 of the current year. For this year, Stantus Accounting Services reported the follow..
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