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Materials used by Company X in producing Division A's product are currently purchased from outside suppliers at a cost of $30 per unit. But the same materials are available from Di
What is accounting? Accounting is concerned with analysing, collecting as well as communicating financial information. Purpose is to help people who use this info to make more
Dissolution If the winding up continues for more than a year, the liquidator must file progress reports with the registrar at such intervals as the court may prescribe s.333. W
State the users of accounting information Environment has brought new challenges for managers and other users of accounting information. Their requirements have changed and bot
The financial year of Jack and Jill Ltd will end on 31 May 2008. At 1 June 2007, the company had in use equipment with a total accumulated cost of Rs 135,620 which had been depreci
Q. What do you mean by Married Taxpayers? Married Taxpayers - Taxpayers who are married may file a JOINT RETURN, thus combining their INCOME and expenses. Individuals would be
Dawn's new car has a FMV of $20,000 and it weighs 3,000 pounds. The county also assessed a property tax on the car. The tax was 2% of its FMV and $10 per hundred weight. The car is
Washington-Pacific invests $2 million to take a tract of land and plant some young pine trees. The trees can be harvested in 13 years, at which time W-P plans to sell the forest at
Ordinary Income - One of two classes of income (other being CAPITAL GAINS) taxed under the INTERNAL REVENUE CODE. Factually, ordinary income is taxed at a higher rate than capital
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