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Q. What is Inheritance in Gross income?
Inheritance - As distinguished from a BEQUEST or devise, an inheritance is property attained through laws of descent and distribution from a person who dies without leaving a will. The value of property inherited id excluded from a taxpayers gross income though if property inherited produces income it's included in gross income. A taxpayer's basis in inherited property is the fair market value at the time of death.
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
the salaries paid in 2004 is rs. 500000 salaries outstanding is rs.20000 salaries paid in advance for 2004 is rs 30000 what is the actual salary expenditure for 2004?
The price stages are that at which sellers recruit securities to borrowers.
Consequences of adjudication The consequences of the making of the adjudication order are: 1. The order must be advertised in the gazette and a local paper; 2. The ownershi
Accounts required and their purpose a. Branch Current Account (Head Office Books) Records all transactions branch and head office; The balance represents the investmen
The chief accountant of kamau ltd
The difficulties associated with managing organisations with multiple objectives To the level that an organisation faces a range of stakeholders then they also face multiple ob
In January 2013, Mitzu Co. pays $2,600,000 for a tract of land with two buildings on it. It plans to demolish Building I and build a new store in its place. Building 2 will be a co
what is recorded sales on account of 3,280
Comparison with Sector Averages Any conclusion relating to the signs of overtrading needs to be put in the context of the normal values of accounting ratios indicated by the se
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