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Accounting
Accounting has evolved and emerged within response to the social & economic requirement of the society. The accounting procedure has its own syntax. The primary system on which the accounting system is based is called as Generally Accepted Accounting Principles (GAAP) and Accounting Standards. Accounting principles are broad guidelines for general applications; they permit a huge variety of methods and practices. Accounting Standards are formulated along with a view to harmonise various accounting policies and practices in use in a country. The goal of Accounting Standards is, therefore, to decrease the accounting alternatives in the preparation of financial statements inside the bounds of rationality, through ensuring comparability of financial statements of various enterprises with a view to give meaningful information to several users of financial statements to enable them to make informed economic decisions.
The capital structure of Wild West Inc. is as follows: - Debts: $5,000,000 (face value) bonds with coupon rate at 8.00% and current price at par -
Q. Explain about business entity concept? A business entity perhaps made up of several different legal entities. For example a large business such as General Motors Corporation
#quest1. Use the general journal to journalize the following transactions completed during July of the current year. 2. Post from the general journal to the general ledger. Using
If on the opening day of business, you put in supplies worth $250 and $3000 cash, would that be considered a transaction OR would it be considered your beginning balances because
Q. Explain Accounts payable? Accounts payable are amounts owed to suppliers meant for goods or services purchased on credit. Accounts payable are usually due in 30 or 60 days a
Two companies enter into loan agreements on 1 March 2012. On that date they also enter into an agreement to swap the loans. The details for each company and loan are: L R R Hood
Assorted fund, a U.K.-based globally diversified equity mutual fund, is considering adding Talisman Energy Inc. (Toronto Stock Exchange: TLM) to its portfolio. Talisman is an indep
Determine the proposal's appropriateness and economic viability. For all scenarios, assume spending occurs on the first day of each year and benefits or savings occurs on the las
Nance's Restaurant, a local independent restaurant, is evaluating new point-of-sale (POS) systems and must determine if a new installation is feasible. A new POS installation wou
Classified income statement It is more involved for a merchandising business to conclude net loss or net income. Income statement is categorized into sections: 1. Revenue
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