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GOODS AT BRANCH MARKED DOWN, OR MARKED UP BY AN ADDITIONAL AMOUNTIf goods at the branch are not selling well, branch could be authorized by the Head office to mark-down the goods. Conversely, if the goods are selling much better than expected, or if replacement goods will cost more, the selling price could be marked up. These mark-downs and mark-ups are credited or debited into the branch stock account and debited or credited into the branch mark-up account respectively.Special care needs to be exercised in valuing closing stock.
Explain:- Q.1 Explain the ways in which the needs of internal and external users of accounting information are the same and different. Q.2 Why is it important for financial sta
Q. Describe about Financial intermediation? Financial intermediation refers to the role of a bank or else other financial institution that serves to bring together lenders and
Question 1 Suppose you take out a loan of $10,000, repayable by five equal annual instalments. The interest rate is 10% per year. (a) How much do you need to repay per year
How would the following errors affect the account balances and the basic accounting equation: assets = liabilities + owners' equity? How do the misstatements affect income? 1. The
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define the term of pre-acquisition diviend
Answer the following questions relating to Discounted Cash Flow (DCF) projections and valuations. (a) Michael Hudson asks a rhetorical question (tongue in cheek): "What's not
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zorn conducted his professional practice through zorn, inc. the corporation uses a fiscal year ending september 30 even though the business purpose test for a fiscal year cannot be
Peter has worked for five years as an assistant accountant for a large garage and vehicle repair workshop. In the past two weeks he has noticed that one of the managers, Simon, ha
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