On baisakh1st 2058, furniture costing Rs.60,000 was purchased by C company and estimated to use upto next 10 years after that it may fetch 10% as scrap value. On 1* Kartik of 2059,
further purchased for Rs.1.00.000 and estimates to use another 10 years after it may produce
R$ 20,000 as scrap value. You are required to draw furniture account using Straight line method up
to 2061 account are closed on31st Chaitra.
(Ans: Balance: Rs.1, 18,400​

On january 1, 2018, jay company acquired all the outstanding ownership shares of zee company. in assessing zee's acquisition-date fair values, jay concluded that the carrying value of zee's long-term debt (8-year remaining life) was less than its fair value by $21,600. at december 31, 2018, zee company's accounts show interest expense of $14,440 and long-term debt of $380,000. what amounts of interest expense and long-term debt should appear on the december 31, 2018, consolidated financial statements of jay and its subsidiary zee? long-term debt $401,600 $398,900 $401,600 $398,900 interest expense $17,140 $17,140 $11,740 $11,740 a. b. c. d.

Your own record of all your transactions. a. check register b. account statement

Which of the following is true concerning the 5/5 lapse rule? a) the 5/5 lapse rule deems that a taxable gift has been made where a power to withdraw in excess of $5,000 or five percent of the trust assets is lapsed by the powerholder. b) the 5/5 lapse rule only comes into play with a single beneficiary trust. c) amounts that lapse under the 5/5 lapse rule qualify for the annual exclusion. d) gifts over the 5/5 lapse rule do not have to be disclosed on a gift tax return.