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Define Accruals or accrued charges
What are Accruals or accrued charges - Expenses that are done for the current accounting period which have not yet been paid. These are sometimes referred to as provisions. Accrued income mainly refers to cash received in advance for a service not yet given to the customer.
Illustration: Holding company with direct share holding Rain Ltd., Storm Ltd. and Thunder Ltd. are in the business of manufacturing tents. Their balance sheets as at 30 September
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in the absence of no agreement in partnership discuss and explain the provision of partnership act
#what are the limitations or disadvantages of accounting concept?
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The common stock of the PP Corporation has been trading in a narrow price range for the past month, and you are convinced it is going to break far out that range in the next 3 mont
In January 2013, Mitzu Co. pays $2,600,000 for a tract of land with two buildings on it. It plans to demolish Building I and build a new store in its place. Building 2 will be a co
Debra Motors's 14% coupon rate, semiannual payment, $1,000 par value bonds that mature in 20 years are callable 3 years from now at a price of $1,075. The bonds sell at a price of
DEFINITION OF BANKRUPTCY Bankruptcy is another key area of accounting . The issues addressed here deal with the properties of an individual (a sole trader or partner in a partner
define the double entry system?
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