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EXAMPLES OF HOW VAT SYSTEM WORKS
Preferential debts These are almost the same as in bankruptcy; with the addition that any person who has advanced money for the payment of wages has the same priority as the pe
Holding company with a subsidiary and a sub-subsidiary Where the subsidiary company has another subsidiary company, then that subsidiary is referred to as a sub-subsidiary compan
#questioSavage Distribution markets CDs of the performing artist Little Sister. At the beginning of October, Savage had in beginning inventory 1,200 Sister’s CDs with a unit cost o
Question: (a) The following output levels and production costs have been recorded over the last three periods: Required: Using the high-low method, estimate the: (i
Focus Company issued a $30,000, 20 year bond with a stated interest rate of 7%. Assume interest payments are made annually. What is the selling price of the bond if the market ra
Preparation of cashflow statements IAS 7 recommends that the cashflow statement can be prepared using two methods:- I) Direct method Whereby, cash from operations is deter
Time for disclaimer The trustee may disclaim in writing at any time within twelve months of his appointment, or of becoming aware of the property, or such extended period as th
given the following information: cash-171,100 accounts receivable-9400 prepaid studio rent-3000 unexpired insurance-7200 supplies-500,equipment-18,000 accumulated depreciation-7200
Purchased used truck for 8,000 ,paying 2,000 cash and the balance on account
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