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Long-Term Liabilities:
These are usually for more than one year. They cover almost all the outsider's liabilities not comprised in the current liabilities and provisions. Such liabilities may be unsecured or secured. Security for long-term loans, are generally the fixed assets owned through the firm assigned to the lender through a pledge or mortgage. All details as interest rate, repayment commitment and behavior of security are disclosed into the balance sheet. Usually, such long-term liabilities include debentures and bonds, borrowings from banks and financial institutions.
An industrial drill costs $60.000 to purchase and $10,000 to install seven years ago. The market value now is $33.000 and this will decline by 12% of current value each year for th
1. The table below gives data for Southland where there are three consumption goods: bananas, coconuts and grapes. Goods Quantity in base period basket
West Industries is a highly decentralized corporation with independent operating divisions. Each division is evaluated and rewarded based on its total net income. One of the divisi
BEP- Break Event Point: It shows no Loss and no Profit The level of activity at which, total revenues equivalent total costs. A point at which there is no profit and no loss.
Cost Accounting advantage and features
question and answer: XYZ trading purchased 6,850 killos of material at a total cost of 21,920.00. The material price variance was 1,370.00 favorable. The standard price per killo w
what is cost accounting
A company adds overhead costs to jobs at the rate of $8 per direct labor hour. It accumulates overhead costs in a seperate manufacturing overhead account and uses normal costing to
Portions of the financial statements for Hawkeye Company are provided below. HAWKEYE COMPANY Income Statement For the Year Ended December 31, 2013 Sales $ 850 Cost of goods sold (3
behabioural aspect of standard costing on budget
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