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Given below are the balance sheets of the two firms- Gloria Ltd and Victoria Ltd as on 31st March 2007. Gloria Ltd. Victoria Ltd. Assets Cash and Bank balance 12.70 38.60 Marketable securities 10.00 21.00 Sundry debtors 22.00 23.70 Prepaid expenses 93.50 162.45 Current Assets 1.12 2.14 Fixed Assets (Net) 139.32 247.90 Total Assets 589.00 642.00 728.323 889.895 Liabilities and Owners Equity Sundry creditors 6.75 26.45 Notes payable 6.56 6.45 Long term debt 130.01 345.00 Equity 585.00 512.00 Total 728.323 889.895 1. Can the financial positions of the two firms be compared assuming that the two firms fall in the same industry?
A corporation issued 5,000 shares of $10 par value common stock in exchange for some land with a market value of $60,000. The entry to record this exchange is ??
assume that the average firm in your companys industry is expected to grow at a constant rate of 4 and that its
Two parties seek to perform a like-kind exchange. The first party has real property with a FMV of $350,000 and a loan of $50,000. She purchased the property for $150,000 in 1996 and has since depreciated the property by $50,000.
a department had 600 units which were 40 complete in beginning goods in process inventory. during the current period
Definition of IASB and mention about what's his job exactly and definition of independent or independency
Identify the principles of internal control: Culottis Oizza operates strictly on a carryout basis. Customers pick up their orders at a counter where a clerk exchanges the pizza for cash. While at the counter, the customer can see other employees m..
Calculate the total interest expense and interest payable from February 1 to August 31, 2010. Prepare the journal entry at August 31, 2010, to bring the accounting records up to date.
After using the concession stand for 4 years, Six Flags determines that the building will remain useful for only 2 more years. Record Six Flags' depreciation on the concession stand for year 5 by the straight line method.
mr. man has been working for a trading company as a sales manager for many years. his current monthly salary is 20000.
Would a regular quarterly announcement of earnings-per-share which is "good" be an example of signaling? What about early adoption of a new accounting standard that would reduce income?
Generally, tax strategies operate in two time frames - now and later. " Now" refers to the twelve months of the current tax year. "Later" refers to the long-range tax strategies that benefit taxpayer future.
A rowdy spring break guest damages a jukebox that had been purchased in 1995 for $800. The jukebox had a useful of ten years, with an estimated salvage value of $75. The company decided to scrap the jukebox after the incident.
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