The historical cost accounting is an accounting technique that values an asset for balance sheet purposes at the price paid for the asset at the time of its acquisition. It is usually used in combination with other measurement bases. For example‚ inventories are usually carried at the lower of cost and net realizable value‚ on the other hand marketable securities are usually carried at market value‚ and entities prefer to carry pension liabilities at their present value. The main advantage of using
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AC501: Financial Accounting and Reporting Unit 3 Assignment Chapter 7 E7-5 (Recognition of profit for long-Term Contracts) Andre Agassi Construction Company began operations January 1‚ 2008. During the year‚ Andre Agassi Construction entered into a contract with Lindsey Davenport Corp. to construct a manufacturing facility. At that time‚ Agassi estimated that it would take 5 years to complete the facility at a total cost of $ 4‚ 5000‚000. The total contract price for construction of
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CHAPTER 4 HISTORICAL RESEARCH HISTORY-is the search for knowledge and the truth‚ a searching to find out. -is any integrated narrative or description of past events or facts written in a spirit of critical inquiry for the whole truth. HISTORICAL RESEARCH/HISTORICAL METHOD OF RESEARCH -is a process of selecting the area or topic to write a history about‚ collecting data about events that occurred on it‚ collating the data‚ sifting the authentic from non-authentic
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prepares its master budget on a quarterly basis. The following data have been assembled to assist in preparing the master budget for the first quarter: a. As of December 31‚ 2011 (the end of the prior quarter)‚ the company’s general ledger showed the following account balances: DEBIT CREDIT $ $ Cash 48‚000 Accounts receivable 224‚000 Finished goods Inventory (1000 units) 60‚000 Raw Materials inventory (500 units) 10‚000 Buildings and equipment (net) 370‚000 Accounts payable 93‚000 Capital stock 510
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an ocean of information is available to find what they need. They can log on to the relevant websites and look for detailed information on the products and services that they are interested in. They read the descriptions‚ examine the pictures‚ and check the prices. Eventually‚ they make a decision and send an e-mail to order and pay for it by e-banking. All can be done at home‚ without scanning newspaper advertisements‚ reading reference print materials‚ going around downtown as they did before. As
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Debit • Credit • BOP must be in equilibrium • Balance of payments in Pakistan • Causes of adverse balance of payments • Measures to correct BOP • Conclusion Introduction: Balance of payments refers to sum of both the balance of visible and invisible items. The balance of Payment is a comprehensive annualrecord of economic relation of a country with the rest of the world during a given period of time. A balance of payments (BOP) sheet is an accounting record of all
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AFTER THE EVENT Love our Heritage event has ended at 4 pm and we together had tidy the place where the event has been held. All the equipment that we have borrowed from Pusat Adat dan Warisan (PADAT) are arranged nicely inside car as it is to be returned on the next day. Although we feel so tired to handle this event‚ but overall we are extremely glad because our mission and objectives of the event was successfully achieved. The mission that we want to achieve is‚ with this kind of event it can
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Mutually Exclusive Events Two events are mutually exclusive if they cannot occur at the same time. Another word that means mutually exclusive is disjoint. If two events are disjoint‚ then the probability of them both occurring at the same time is 0. Disjoint: P (A and B) = 0 If two events are mutually exclusive‚ then the probability of either occurring is the sum of the probabilities of each occurring. Specific Addition Rule Only valid when the events are mutually exclusive
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Assignment II Essay Historical Globalization In the period of historical globalization‚ a lot of horrible events had happen and many people have suffered‚ also lost what they had such as land‚ culture‚ languages‚ family‚ freedom‚ and dignity. Like the Rwanda incidents‚ Apartheid Law in South Africa and the incidents in Residential Schools in Canada. Although those things had happened‚ they still survive and right now is rebuilding and moving forward to not let it happen again with the
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New Balance Situation Analysis New Balance International was founded during the early 1990s specializing in orthopedic footware to improve the fit of their shoes. Today the company continues its founding values in a highly specialized niche business of providing athletic footware in a wide range of widths and sizes which distinguishes the product from its competitors. With the philosophy of “one size did not fit all‚” New Balance expanded operation from the US and currently markets its
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