UNIVERSITY OF NAIROBI SCHOOL OF BUSINESS MASTER OF BUSINESS ADMINISTRATION ADVANCED FINANCIAL ACCOUNTING DAC 601 TOPIC: ACCOUNTING FOR LEASES PRESENTED BY: Mbogo Stella Mumbi……………...……...…………….D61/60246/2013 Albert Kalute Maingi……………...……...…………….D61/62221/2013 PRESENTED TO: DR. KAMASARA TABLE OF CONTENTS: 1.0: INTRODUCTION……………………………………………………………………….. 3 1.1: Leasing………………………………………………………………………………….. 3 1.2: Definition of Terms……………………………………………………………………
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deductions from AGI Legal and accounting fees – may deduct if incurred in conduct of trade or business or for the production of income * Deductions for AGI if incurred in trade or business and any fees incurred in the determination or collection of taxes * All other legal and acct fees incurred by taxpayer are from AGI * Cannot deduct legal fees incurred in the acquisition of property (these are capitalized) Ordinary expense – reasonable in amount‚ bears reasonable and proximate relationship
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2/8/2014 Terms‚ Conditions & Disclosures By submitting this application‚ I certify that I have read‚ met‚ and agreed to all of the terms‚ conditions‚ and disclosures outlined below /as stated below ‚ w hich contain rates‚ fee and other important cost information. Print this page IMPORTANT INFORMATION REGARDING RATES‚ FEE‚ AND OTHER COST INFORMATION INTEREST RATES AND INTEREST CHARGES Annual Percentage Rate (APR) for Purchases 0.0% introductory APR for the first 15 months. After
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The notion of “fairness” is often the justification given for the government intervention in the market. Do you agree or disagree. 1.0 Introduction Fairness in the market can be defined as the equally distribution in the proportion of economic pie to every party. In the past‚ the economic prosperity is not uniformly allocated among the members of society. The wealthier will have a larger proportion of the economic pie whereas the poorer parties will only occupy a smaller part of the economic
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7) All of the following items are included in gross income except A) alimony received. B) rental income. (from rental property you own) C) interest earned on a bank account. D) child support payments received. 8) All of the following items are deductions for adjusted gross income except A) alimony paid. B) moving expenses. C) student loan interest. D) real estate taxes. 9) All of the following items are deductions from adjusted gross income except A) itemized deductions
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Netflix‚ Inc. Case October 2‚ 2011 1. Netflix‚ Inc. has several competitive advantages in the movie rental business. * The strongest advantage they have would be the comprehensive library of titles that they are able to offer to their customers. They have developed a strong relationship with top studios and distributors to enable them to offer a broad selection. Netflix’s is constantly adding new releases and carrying numerous copies of the popular titles. * High levels of customer
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406.68 Insecticide 1‚070.14 1‚687.02 Irrigation charges 437.67 560.22 Interest on working capital 13.94 14.96 Miscellaneous II Fixed cost 11‚013.68 8‚804.16 9‚347.16 6‚633.37 Rental value of owned land 448.48 211.04 Rent paid for leased in land 56.78 101.32 Land revenue‚ cesses & taxes 233.78 409.00 Depreciation on implements & farm buildings 927.48 1‚449.43 Interest on fixed capital Total I+II 28‚532.78 29‚831.95 III (a) Yield and Production per ha 53.72 44
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INSTRUCTIONS FOR FILING 2012 U.S. S CORPORATION INCOME TAX RETURN May 12‚ 2014 SIGNATURE: An authorized officer of your S corporation should sign and date the return at the bottom of the first page. DUE DATE: File your 2012 Form 1120S on or before: March 15‚ 2013 The IRS may treat tax returns that are lost in the mail as not filed on time‚ unless you send them by registered or certified mail. To avoid the risk of your tax return being lost‚ mail it via (1) certified U.S. mail‚ return receipt requested
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apartment rather than own a home. A major decision that all adults will face is deciding if it better for them to rent or own their residence. I am going to show it is far more cost effective to live in a rental property rather than owning a property. The average cost of living in a rental property is far less than living in property that is owned. The comparison in the cost of rent versus the cost of a mortgage combined with the extra expenses of owning a home will show the basic savings a person
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percent effective June 1‚ 2007. The new sales tax revenue generated by this increase will be placed in a newly created Homestead Exemption Fund. Second‚ beginning with tax year 2007‚ all owner-occupied residential property is exempt from property taxes for school operations. Funds in the Homestead Exemption Fund are to be used to reimburse school districts for the lost property tax revenue. However‚ to say that the funds will be used to reimburse school districts is an oversimplification. As
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