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Investment of accumulated income
The income accumulations must be invested from time to time and the investments earmarked as being on Accumulations Account.
The income arising on accumulation investments should be credited to Income Accumulations Account and divided between the infants in proportion to the balances on Accumulations Account at the commencement of the year.
It will be appreciated from the above that the Income Accumulations Account is merely an income account ruled with columns to distinguish the income belonging to each beneficiary. The total balances on this account will be represented by Accumulation Investments and cash at bank.
The Budvar Company purchases parts from a foreign customer on December 1, Year 1, with payment of 20,000 crowns 20,000 crowns to be made on March 1, Year 2. Budvar enters into a f
Q. What is Depreciation Reserve Fund ? Depreciation Reserve Fund is the fund specially reserved for replacement of assets. Once the assets are purchased from the capital money
Four major qualitative characteristics of accounting information There are four major qualitative characteristics which influence usefulness of accounting information. Additio
On January 1, 2010, Jacob issues $800,000 of 9%, 13-year bonds at a price of 96½. Six years later, on January 1, 2016, Jacob retires 20% of these bonds by buying them on the open m
For what EDP is using in accounting
what are the concept of economic substance over legal form under accounting for lease?
Protected transactions These fall into three categories: (A) Under Section 50: Payments by the bankrupt to creditors; Payments or deliveries to the bankrupt; C
VK Ltd a multi-product Company, furnishes you the following data relating to the year 2000. First Half of the year Second Half of the year Sales Rs. 4
Baseball Products manufactures a single product with the following full unit costs at a volume of 2,000 units: Direct materials $ 900 Direct labor 360 Manufacturing overhead* 6
ARG Co presently has $50m of fixed assets and long-term debt of $10m. The issue of $3m of 9% debentures will raise fixed assets by $2m of buildings and machinery. There appears to
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