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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.
San Jose Company issued 5-year $200,000 face value bonds at 105 on January 1, 2012. The stated interest rate on these bonds is 9%. Use the straight line situation to complete the a
Numerous accounting organizations have codes of ethics governing the behaviour of their members. For example both the American Institute of Certified Public Accountants and the Ins
decrease in assat & decrease in capital
Julie Whiteweiler made $930 this week. Only social security (fully taxable) and federal income taxes attach to her pay. Whiteweiler contributes $100 each week to her company's 40
What are the steps for Closing entries There is a certain order that should be used to close accounts: REID 1. Balance of the total R evenue to Income Summary 2. Bal
preparing trial balance with balance method
what are the implications of applying accounting concepts wrongly
Perth Ltd acquired 80% of the share capital of Summer Ltd on 1 July 2011. The following equity balances appeared in the records of Summer Ltd at the date of acquisition: Share capi
Q. Explain sales return? A sales return is merchandise return by a buyer. Buyers and Sellers regard a sales return as a cancellation of a sale. Otherwise some customers keep un
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