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BALANCE SHEETGrouping of items: Items in the Balance Sheet should be grouped under appropriate headings. In particular, a trust operating the provisions of the Trustee Act will have headings for: The fixed interest securities and fund; The wider range securities and fund; The special range securities and fund. The Balance Sheet will also clearly distinguish between items representing income and those representing capital.Comparative figures:
Comparative figures should be shown where relevant.
Capital account:
Where the Trustee Act has been applied, the capital account will be divided between the fixed interest, wider and special ranges. The balance on the capital account shows the total book value of the capital funds.
Liabilities:
Careful distinction should be made between liabilities on capital account and those on income account.
Assets
Assume that prices and wages adjust rapidly so that the markets for labor, goods, and assets are always in equilibrium. What are the effects of each of the following on real money
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In January, 2008, Sanford Corporation purchased a patent for a new product for $1,200,000. The patent was valid for fifteen years but it was estimated to have a useful life of ten
scope of financial accounting
i need to prepare a steep analysis report for kathmandu
Q. Given the following data, what is net income? (Note: Not all items shown below will be included in income.) Cost of Goods Sold 8 Accoun
This project allows you to think critically and apply decision-making management techniques. In this project, you need to solve a bond portfolio problem, a diversified portfolio p
Calculate the market value of Renowned Cola''s debt at year-end 2005. What is the book value of debt? Why do usually use market or book values for debt? Explain.
The intestate leaves no spouse but children The net estate devolves upon the surviving children and is divided equally between them. If any child has not, at the time of intest
Identify the Depreciation Methods On January 3, 2005, XYZ Distribution Co. paid $224,000 for a computer system. In addition to the basic purchase price, the company paid a set
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