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Question 1:
Briefly explain the following costs terms:
Best Resort Ltd grows pineapples. The budget for March 2010 is as follows:
Rs
Direct materials 12,000 Direct Labour 15,000
(i) Describe what is meant by the revaluation method of depreciation. Give two examples to illustrate your answer.
(ii) Give two limitations of this method of depreciation.
a simple discount note for $6,600 at a ordinary bank discount rate of 8.61% for 60 days. What is the effective interest rate? Round to the nearest tenth of a percent
Q. Illustrate a simple accounting system? James Stevens was captivating an accounting course at State University. as well he was helping companies find accounting systems that
Ken, a resident, is a handyman who contracts with people to do a variety of jobs including repairing fences, fixing household items and small painting jobs. As part of this work, K
office supplies on hand at year-end amounted to 3000.
Explain about the payroll register This is a summary of gross earnings, deductions and net pay for all employees for a specific payroll period. Register illustrates all amounts
Replenishing the Petty Cash Fund Debit every expense account, supplies, or drawing as needed. Credit to Cash. Petty Cash is only debited when fund is established or increased.
Q. Show accounting deception situations? In 2002 The Sarbanes-Oxley Act was approved. The Act was approved as one result of the large losses to the employees and investors from
Enumerate the fundamentals of financial accounting information Frame works and principles which have been developed try to address fundamental questions like: ?Who are user
Determine the symbols of Net Sales for the Period - Cost of Goods Sold = Gross Profit - Operating Expenses + Other Income - Other Expenses =
Q. What is Intangible Assets? Intangible Assets are items likecopyrights, patents, licenses, trademarks, franchises andother kinds of rights or things of value to a company tha
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