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ACCUMULATION ACCOUNTS FOR MINORS (a) Income accumulations : When property is left in trust for minors, the income earned for the period will be divided equally or according t
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
A new shopping mall is considering setting up an information desk staffed by one (1) employee. Based upon information obtained from similar information desks, it is believed that p
The net present value has been computed for Proposals A and B. proposal A proposal B invested amount 75000 125000 total present value of cash 84000 136250 net present value 9000 11
THE BALANCE SHEET It shows the financial position of the company as at the end of a given financial period. The standard requires that assets and liabilities should be classifi
Q. Define Return on capital employed? Return on capital employed (ROCE) is as well called accounting rate of return. Distinctly IRR ROCE uses average annual accounting profit b
An intersting point to not is that there is a difference in the tax treatment of income from Limitied Liability Companies (LLCs) and Corporations. What is this difference and what
Suppose that the annual rate of interest is 4%. (a) What is the monthly rate? (b) Consider a 3-year lease on a car that is worth $20,000 today. The first payment on the lease
Indicate by check mark ("9") or "X" which accounts are found on the income statement and which accounts are found on the balance sheet. Account Name In
Q. Show the Audit Documentation? Audit Documentation -Written record of the basis for AUDITOR's conclusions which provides the support for auditor's representations, whether th
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