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Problem 1: Morgan ltd adopts the revaluation model for its plant and machinery. The company acquires one item. of plant for £40,000 on 1 January 20x2. The plant is depreciated on a straight-line basis over its useful economic life, which is estimated to be 10 years. On 1 January 20x5 the company will have:
a. accumulated depreciation £8,000 revaluation surplus £2,000b. accumulated depreciation £12,000 revaluation surplus £2,000c. accumulated depreciation £8,000 revaluation surplus £4,000d. accumulated depreciation £12,000 revaluation surplus £4,000
Problem 2: The enhancing qualitative characteristics of financial information include:
a. comparability and understandabilityb. understandability and faithful representationc. relevance and faithful representationd. relevance and timeliness
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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