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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.
Ely purchased a patent (with a remaining legal life of ten years) from Backo on January 1, 2010 for $300,000. Ely expected to use the patent for five years. The carrying value on B
I see a question posted. I can I be sure the problem has been solved. I tried calling your number but I got no answer
Aristo Ltd uses a system of absorption costing. The product passes through a machining department and an assembly department before it is completed. The assembly department is labo
equity share capital rs 10 200 10% preference share capital 80 15% debenture 20 profit before interest and taxes 60 proposed dividend 20 provision fo
1- Journalize May transactions. Entry: 1. May 1 Owner H.Hadi invested $40,000 in the business. 2. May 4 Equipment was purchased at a cost of $7,000; a three-month, 10% note pa
1.Which of the following is true? A. Land is depreciated using the straight line depreciation method B. Land is amortized using the declining balance method C. Land is depleted usi
Retained Earnings had a beginning balance of $2,758,000 and an ending balance of $3,885,700. Total revenues for the year were 3,790,800. During the year 130,300 in dividends were d
Instructions: The case should be done in your assigned groups. Hand in a brief write-up not exceeding two pages explaining what was done. In April 198
Q. What is Materiality? Materiality - Magnitude of an omission or misstatements of ACCOUNTING information that, in the light of surrounding circumstances, makes it probable tha
Final accounts 1) Examination questions – two types of problems arise in examinations: transfers between head office and branch are made at cost; or Transfers bet
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