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Accounting for Partnerships
The owners’ interests in the business are divided into long term and short-term interests. (Long-term interests refer to original capital commitments and changes thereon. Short-term interests refer to shares of annual profit and amounts therein withdrawn). The long-term interests are shown in a capital account whereas short-term interests are shown in a current account.These accounts are kept in a T-form for examination purposes, a separate column being kept for each partner.
Q. Design a organisational strategy? The objectives to which organisational approach relates depend on the relative power of different stakeholders associated with the company
Combined income statement The figures to appear in the combined income statement are based on the following diagram: 1) An arrow pointing into a box refers to purchase
Individuals commonly prefer possession of cash immediately or in the present moment quite than the same amount at any time in the future. Such time preference is fundamentally due
Remedies available to beneficiary 1) Injunction - to prevent unauthorised action by trustees; 2) Personal action - a trustee is only liable for his own acts and defaul
Adjudication order The court may adjudge the debtor bankrupt on the application of the O.R. or any creditor in the following cases: If the creditors so resolve at their first
MarmadukeMuffett once had a girlfriend who ran an antiques business in London'sKings Road. Ever since then, he has been hooked on the furniture trade and now runsMarmaduke'sMarvell
Q. What are the Organization Expenditures? Organization Expenditures -Costs of organizing a business or trade or for profit activity before it begins active business. A taxpaye
WHAT IS THE MODERN ACCOUNTING TECHNIQUES.
Common stock $5 stated value (900,000 shares authorized, 620,000 shares issued)................. $3,100,000 Paid-in capital in excess o stated value-common stock ....1,240,000 Reta
The conflicting interests of users We have seen above that every user group looks at a business from a different perspective and has its own individual interests. This means th
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