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Adjusting Entries Clapton Guitar Company entered into the following transactions during 2013. [The transactions were properly recorded in permanent (balance sheet) accounts unless
Your friend Peter is planning to set up a new business which will manufacture and sell wooden tables. The parts that make up the table consist of a wooden table top measuring 1m by
what is journal
A changeable instrument is deemed part liability and part equity. IAS 32 necessitate that each part is measured individually on initial recognition. The liability element is
Long-term Debt 10% notes payable $1,000,000 7% convertible bonds payable 5,000,000 Discount
in recent years Morten Ltd, a company that manufactures and markets a range of pharmaceutical products.
The following details are taken from the accounting records of the company as at 30 June 2010: Debit Credit Sales revenue 49,950,000
Classifying expenses by nature Under this format, expenses are not classified by their nature i.e. referred to specifically according to their type and the major categories of ex
John Chan considers buying a six-month stock futures contract on the shares of Li & Fung Limited. Shares of Li & Fung Limited are now trading at $50 per share and it is expected th
under gaap, are proceeds from capital lease obligation reported in the statement of cash flow and why
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