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Accrued income is an amount earned although not in reality received during the accounting period or till the date of preparation of last accounts for the period concerned. The first result of accrued income is to credit the loss and profit account and to demonstrate the similar in the assets side of the balance sheet.
A product is manufactured by passing through three processes: A, B and C. In process C a by-product is also produced which is then transferred to process D where it is completed. F
A company has developed a new product which it will launch next month. During the initial production phase the company expects to produce 6,400 units in batches of 100 units. The f
Waylander Coatings Company purchased waterproofing equipment on January 6, 2013, for $320,000.The equipment was expected to have a useful life of four years, or 20,000 operating ho
OBJECTIVES OF COST ACCOUNTING : 1-DETERMINING SELLING PRICE 2-CONTROLING COST 3- PROVIDING INFORMATION FOR DESING MAKING 4-ASCERTAINING COSTING PROFIT 5-Facilitating preparation of
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mojor elements of cost sheet
With the introduction of computer-generated animated films (CGI), there has been much discussion of the impact on the movie industry. For example, illustrators need to have differe
What are 'potential' ordinary shares? In your answer provide three examples to support your explanation. Briefly outline the process (steps) to determine whether 'potential' ordi
What are the journal entries to recognize each of the below events. a. The firm records bad debt expense of 5% of credit sales, which were $300. The firm uses the Percentage
The CFO of ABC Municipality has heard of activity based costing and wants to execute it in the municipality. Because ABC involves a number of changes to how service costs are deter
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