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Prove that accounting equation is satisfied in all the following transactions of Mr.X
1. Commenced business with cash - Rs.80,000 2. Purchased goods for cash - Rs.40,000 and on credit Rs.30,0003. Sold goods for cash - Rs.40,000 costing Rs.25,0004. Paid salary - Rs.2,000 and salary outstanding Rs.1,0005. Bought scooter for personal use for cash at Rs.20,000
A company does not need to record the receipt of a bill for utilities used during this year if they will not pay for it until next year. True or False
You will gain welfare from consuming bread and chocolate. Your welfare is described numerically by W = 4B + 2C, where B denotes the quantity of bread you choose to consume, and C d
Process to increase the financial health of company Financial affairs of a limited company enter public domain. With exception of small companies, there is also a requirement f
Information concerning the capital structure of Piper Corporation is as follows: December 31, 2011 2010 Common stock 150,000 shares 150,000 shares Convertible preferred stock 15,00
Group retained profits Retained profits ideally should be the amounts that can be distributed as dividends. Therefore, in arriving at group retained profits, careful attention s
THE STATEMENT OF CHANGES IN EQUITY This is a very important report because it explains the movements in the shareholder funds during the year and also acts as a link between the
1-Dec $92,000.00 of 5% bonds are purchased with check. Interest is paid once a year and will mature in 5 years. The market yield for these bonds is 4%.
evaluate the importance of leverage in financial management of a small scale business
What information goes on each sheet of an Articulationof statements, i.e. the Data Entry sheet, the Trial Balance sheet, the Single step Income statement, multi-step income stateme
SEC reporting implications i) Potentially inaccurate reporting of executive compensation in proxy statements and annual reports ii) Potential violation of securities and Law
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