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A patent costing $500,000 was purchased on July 1. The company expects the patent to be useful for 5 years. How much amortization expense is reconized on December 31?
The information contained in published financial statements is of specific importance to external users, as shareholders and investors. Without any information they would not be ca
who are sole traders
State and local income taxes Some states also withhold state income taxes. Texas doesn't. If state withholds taxes, there will be form similar to the federal one to determine t
Q. Economic substance of the transaction? In a few business transactions the economic substance of the transaction conflicts with its legal form. For instance a contract that i
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.”
Q. Explain about Traditional accounting theory? Conventional accounting theory consists of underlying assumptions rules of measurement major principles and modifying convention
Q. Explain about Going-concern concept? Except strong evidence exists to the contrary accountants assume that the business entity will continue operations into the indefinite
Cash Flow Analysis: As per the Institute of Cost and Works Accountants of India (AICWAI), a Cash Flow Statement is a declaration setting out the flow of cash under different
Complete a descriptive analysis of the following data elements in the Organizational Assessment Study dataset. Use appropriate graphical tools and descriptive statistics to charact
Q. Example of Adjustments for accrued items? For instance assume Micro Train Company has some money in a savings account. On 2010 December 31 the cash on deposit has earned one
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