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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
The appropriate treatment of Cash flow in respect of the following items as per US GAAP & FASB - (230-10) 1. Receipt of Insurance settlement proceeds of $2 mill. From an intern
Illustration of maximum possible loss method A, B and C have been partners for several years, sharing profits and losses in the ratio 2:2:1. They decided to dissolve the firm o
The following question are based on above table:- Question 1 What is the change in net working capital from 2009 to 2010? Question 2 What is net capital spending for 20
Errors An error is an error discovered in the current financial period but it relates to one or more previous financial periods. Such errors arise due to mathematical mistakes, m
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Q. Explain briefly the role of computers in accounting? Computers can be used as accounting machines and perform all the functions which accounting machines perform. Some of th
After going through this section, you must be capable to: - Identify the time value of money; - Know what gives money its time value; - Identify
Application Information The application must include information as to: The full name of the deceased; The death and place of his death; Whether or not the decease
Leverage or Gearing Ratios - These ratios include the Long Term Debt to Equity Ratio, Total Debt to Equity Ratio, Interest Coverage Ratio. Here, the interest coverage ratio is al
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