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How Accounting objectives can be achieved
There are two main ways by which this can be achieved:
There can be combinations of both systems; for example, each branch could maintain its own accounting system for income and expenditure, stock, debtors, cash and creditors, but fixed assets at branches, long-term investments made by and loans granted to the enterprise as a whole are reflected in the accounting system maintained by the head office.We shall consider these accounting systems, and, in addition, we shall consider how accounts maintained by a foreign branch are translated into the currency of the head office.
Show the rectification entries for the following: (10 marks) a. The Sales account is undercast by Rs.15,000 b. Goods returned by
A of surat consigns goods to B of jaipur to be sold at or above price .Be is entitles to get a ommission of 8% on sales at invoice price plus 25% of any surplus price realized. B
Assume that we are in December 2009 and try to make forecasts of the five year interest rate at the end of January 2010. For this question , you just need to fill out the blank s
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Natalie cashes in her U.S savings Bonds and receives % 520, which she deposits in her personal bank account. Journalize it
Explain the movements in working capital in terms of a business''s cash cycle. Explain some of the options available and their effect on the cash cycle.
Common stock $5 stated value (900,000 shares authorized, 620,000 shares issued)................. $3,100,000 Paid-in capital in excess o stated value-common stock ....1,240,000 Reta
Fair value adjustment IFRS 3 requires that goodwill on consolidation should be based on the fair values of the net assets of the subsidiary company on the date of acquisition. T
Maghrabi Enclosure follows a moderate current asset investment policy, but it is considering whether to shift to a different strategy. The firm''s annual sales are $500,000; its f
The City of Miami must replace a number of its concrete mixer trucks with new trucks. It has received two bids and has evaluated closely the performance characteristics of the seve
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