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Illustration of maximum possible loss method A, B and C have been partners for several years, sharing profits and losses in the ratio 2:2:1. They decided to dissolve the firm o
Pooling of Interest - Used to account for acquisition of another company when acquiring company exchanges its voting COMMON STOCK for voting common stock of the attained company wh
It’s been two months since you took a position as an assistant financial analyst at Caledonia Products. Although your boss has been pleased with your work, he is still a bit hesita
NSC Ltd has a 31 may fiscal year end
Derivation of Formulas i) Future Value of an Annuity Future value of an annuity is FVA n = A(1 + k) n -1 + A (1 + k) n - 2 + .......A (1 + k) + A ............
PC Bank has $100,000 in fixed rate loans paying an annual interest rate of 10 percent, payable semiannually. PC Bank also has $100,000 in certificates of deposit. Their depositor
shown below in T-account format are the changes affecting the retained earnings of Brenner-Jude Corporation during 2011. At January 1,2011, the corporation had outstanding 105 mill
Question : Financial analysts will use ratios to compare performance of companies in the same industry. Lenders will frequently use ratio analysis to help them decide whethe
Disclaimer The liquidator may disclaim onerous property consisting of: 1. Land burdened with onerous covenants; 2. Stocks and shares; 3. Unprofitable contracts, or 4.
Question 1 Explain the five accounting concepts with an example Separate entity concept Going concern concept Money measurement concept Cost concept Dual aspect
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