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MUTUAL DEALINGS A right of set-off is allowed where there have been - (a) Mutual credits, debts or other dealings resulting in pecuniary liabilities, (b) Between the debtor an
A lawn care company started business on January 1, 2012. The company billed clients $105,000 for lawn care services completed in 2012. By December 31, the company had received $84,
Establish a budget and allocate funds in accordance with statutory and organisational requirements
ACCOUNTANCY PRINCIPLES (GAAP - GENERALLY ACCEPTED ACCOUNTING PRINCIPLES) Accounting values, rules of conduct and action are explained by a variety of terms for instance convent
Van Aalst Company's comparative balance sheet and income statement for last year appear below: Comparative Balance Sheet
Minority interest (MI) When the holding company owns less than 100% of the ordinary share capital of the subsidiary company then the other balance is held by minority interest. T
Process to increase the financial health of company Financial affairs of a limited company enter public domain. With exception of small companies, there is also a requirement f
notes on 5 modern accounting techniques
What is the function of balance sheet
Inter Company balances One of the companies may appear as receivable (debtor) or payable (creditor) in the other company’s books. Just like in accounting four branches, such in
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