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Quasi-Reorganization - Type of reorganization in that, with shareholder approval, management revalue ASSETS and eliminates DEFICIT (increased by asset devaluations if any) by charging it to other EQUITY accounts without creation of a new corporate entity or without court intervention.
Classifying expenses by nature Under this format, expenses are not classified by their nature i.e. referred to specifically according to their type and the major categories of ex
TERMINATION OF OFFICE OF TRUSTEE The trustee may vacate office in the following ways: 1. Resignation : He may resign at a meeting of creditors and with their consent. 2.
Can you help me balance my account number out
Q. Which of the following is not true of a corporation? a. It may buy, own, and sell property. b. It may sue and be sued. c. The acts of its owners bind the corporation. d. It may
what is costs of raw material used.......
Q. Bento, Inc. had 500,000 shares of common stock outstanding before a stock split occurred, and 1,500,000 shares outstanding after the stock split. The stock split was a. 2-for-5.
Accounting concepts The word 'Accounting Concept' is used to denote necessary assumptions and ideas which are basic to accounting practice. The variety of accounting concepts i
Choice of an appropriate discount rate The difficulty with selecting a discount rate rests on whether the correct rate for the risk/return has been derived. A number of things
how to solve balance sheet in five million capital
What are the effects on current income and on future income, if a firm incorrectly capitalizes an expenditure that it should have expensed? State your answer for both current inc
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