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Show the rectification entries for the following: (10 marks)
a. The Sales account is undercast by Rs.15,000
b. Goods returned by the customer Mr.X of Rs.5650 has been posted in the Return Inward Account as Rs.5560 and in Mr.X a/c as Rs.6,550.
c. Salary paid Rs.6,000 has been posted to Rent account
d. Cash received from Ram posted to Shyam account Rs.7,000
e. Cash received from Jadu Rs.8,640 has been posted to the debit of Madhu's a/c
Students are to prepare and report as a financial advisor to an investor as to whether the public company selected is a suitable investment for the investor. In preparing the essay
Q. Explain the Matching Principle? Matching Principle - A basic concept of basic accounting. In any one given accounting period, you must try to match the revenue you are repor
Illustration of Accounting treatment of deferred tax A Ltd., bought an item of plant at a cost of £100,000 in year 2000. The estimated useful life of the plant was 5 years and
Uniform Accountancy Act (UAA) - UAA is the proposal for a new regulatory framework for the public accounting profession that was developed jointly by the American Institute of Cer
Significant Findings or Issues - Substantive matters which are vital to procedures performed, conclusions reached or evidence obtained and include though aren't limited to: 1.
Monetary Policy Unlike fiscal policy, monetary policy is set by unelected officials. A group of economists is appointed by the executive branch and confirmed by the Senate to
Describe the following questions:- Q.1 Explain how financial statements assist in the capital allocation process. How are financial statements limited? Which financial statement
Answer all of the parts in this task. Part (i) is worth a maximum of 6 Marks - 1 Mark each part. Parts (ii) and (iii) are worth a maximum of 2 Marks each. (i) Describe each of t
Question: Agatha Co. is a trading company making up its accounts regularly to 31 December each year. At 01 January 2005 the following balances existed in the records of Agat
PROVABLE DEBTS All debts and liabilities present or future, certain or contingent, are provable in bankruptcy, except: 1) Claims for unliquidated damages in tort; 2) Debts
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