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Q. Explain about Traditional accounting theory? Conventional accounting theory consists of underlying assumptions rules of measurement major principles and modifying convention
BRS - Bank Reconciliation Statement A bank reconciliation statement is a declaration organized by organizations to reconcile the balance of cash at bank in a company's own rec
Astra Company sells financial calculators and offers instruction on their use. During its first year it expects to sell 3000 calculators at $30 each and offer 5000 hours of instruc
A light truck is purchased on January 1 at a cost of $27,000. It is expected to serve for eight years and have a salvage value of $3,000. Calculate the depreciation expense for t
Process Solutions provides a computer-based document processing service. The accountant has produced the following analysis. Standard Modifi
Q. Principles of consolidation? The consolidated financial statements of the Company comprise the accounts of The Walt Disney Company and its subsidiaries after elimination of
Business transactions and the accounting equation A transaction is any activity which changes the value of a firm's assets, liabilities or owner's equity. Every transaction
On January 1, 2012, Magnus Corporation had 60,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Mar. 1
the consequences of non-compliance of each of the accounting concepts.
1. Carmen Santiago works for a number of businesses as a “consultant.” She has helped design accounting systems, provided accounting services, and analyzed the financial s
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