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Assume in Balance sheet Furniture is given @ rs.1200000. and an adjustment tells that half of the building is used for residential purpose... then what is treatment in accounts?
Ans) only 600000 worth of building is used for office purposeso only 600000 will be displaying in the balance sheet as the building used for residential reason will not be given as it is personal
Concept of Conservatism: The concept of conservatism, also termed as the concept of prudence, is frequently stated as "anticipate no profit, give for all possible losses". It
Q. Uses of journal in accounting? Organizing journal entries in a computerized system is different than in a manual system. The computer usually asks for the number of the acco
in 2011 hardin company had 220000 shares $10 par common stock, march 1 issued 45000 shares at $22, June 1 issued 15% stack dividend, July 1 issued 10000 at $27, Aug 31 2-for-1 st
DEFINITION OF COST ACCOUNTING DEFINITION: as said by the Institute of Cost and Works Accountants (ICWA), London, Cost accounting is " the method of accounting for costs from t
Difference between Debit and Credit Debit- used to record employer's FICA taxes, state unemployment taxes and federal unemployment taxes incurred during an accounting period
Details: Costing products is a matter of considerable importance to organizations. The need for accurate product costs ranges from cost identification for inventory valuation purp
An example of a committed fixed cost would be: a) taxes on real estate b) management development programs c) public relations d) advertising programs
Weekly tasks or assignments (Individual or Group Projects) will be due by Monday and late submissions will be assigned a late penalty in accordance with the late penalty policy fou
Limitations of Funds Flow Statement : despite the a variety of uses of the announcement, it has convinced problems also. They consist of the subsequent i) It cannot substitute
basic methods for calculating depreciation
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