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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.
1. An organization owes £300,000 tax at 1.7.X4 and £450,000 at 30.6.X5. Its income statement for the year to 30.6.X5 includes a tax charge of £400,000. How much tax was actually pa
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
Q. What do you mean by Bankruptcy? Bankruptcy - Legal process, governed by federal statute, whereby the DEBTS of an insolventperson are liquidated after being satisfied to the
What is the function of bill receivable? What is the meaning of bill receivable?
A huge number of variations of ROT are determined in practice, based upon how "Investment" and "Return" are explained "Investment" may be explained to comprise any of the subsequen
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Notsofast Inc. acquired land for $500,000 on 7/1/2010. It erroneously recorded the full amount as an expense. Explain what Notsofast must do when it discovers the error in 2011. Wh
what is estimated liabilities
1. Lett Corp declared and issued a 15% stock dividend when they had 100,000 shares of common stock issued and outstanding. The market price of the stock was $20 per share on the de
what is credit multiplier formular
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