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Teague Company purchased a latest machine on January 1, 2012, at a cost of $150,000. The machine is expected to have an 8-year life and a $15,000 salvage value. The machine is expe
Q. Economic substance of the transaction? In a few business transactions the economic substance of the transaction conflicts with its legal form. For instance a contract that i
How can price inflation effect a university negatively in the future? Like, what are a few things in the university that will be impacted?
what is accounting
Advantages of setting Accounting Standards: 1. Setting of Accounting Standards will decrease the variations in the preparation of financial statements significantly. 2. Sett
Process for Calculating gross earnings These are employee's earnings before any amount is deducted by the employer. Earnings are calculated either by a standard monthly r
trying to put the numbers into the correct asset t-account and not adding up
Glaser Services obtained 30% of the outstanding common stock of Nickels Company on January 1, 2008, by paying $864,180 for the 48,010 shares. Nickels stated and paid $0.50 per shar
Q. Explain about Prepaid insurance? The two accounts recitations to insurance are Prepaid Insurance (an asset) and Insurance Expense (an expense). Subsequent to posting this en
Q. What do you mean by Not-for-profit organizations? Not-for-profit organizations such like charities, fraternities, churches, and universities need accountants to record and a
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