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1. Explain and justify the difference between the treatment of estimated uncollectible taxes in fund accounting and the treatment of estimated bad debts in commercial accounting.
2. A disbursement by the general fund to another fund may be recorded as a receivable, an expenditure, or a fund transfer. Explain the circumstances that would result in each of these different treatments.
Explain the activity-based costing (ABC) and traditional two-stage method cost allocation for overhead. Why would a firm use activity-based costing (ABC) rather than traditional two-stage methods of cost allocation for overhead?
GRP Corporation has $500,000 in a bank account paying 0.35% annual interest. As an alternative to leaving the money in the account, the company is considering investing the entire amount for five years. possible investments have been identified as..
alva can earn 5% before tax interest on a corporate bond or a 4% dividend on a preferred stock. Assuming that the appreciation in value is the same, which investment produces the greater after tax income?
The following information has been obtained for the Kerdyk Corporation. Compute taxable income and income tax payable for 2007.
Preparation of classified balance sheet using given data, From the following data, prepare a classified balance sheet for Simon Company at December 31, 2006.
A farmer grows two crops: lettuce and beans. The farmer uses three inputs: labor, seed and fertilizer. The past prices and the quantities of each are given in the following tables: Calculate productivity measures for last year and this year using p..
What is the formal definition in the glossary of the term "Inventory?" What is the Codification topic number for inventory? What types of entities are not covered by the guidance in the Inventory Topic? (Provide the Codification reference for your ..
Explain procedures for collecting accounting evidence, Explain the use of sampling in performing an examination Evaluate accounting evidence using analytical and inferential tools.
Assume the same facts except that loon's long-term capital gain is $100,000 (instead of $60,000. Compute Loon's taxable income for the year.
Explain the areas in which the Adelphia communications engaged in fraudulent financial reporting and the circumstances that led to this
What are the differences between regular and irregular items on income statement? What are the requirements for items to qualify as irregular?
Compute the total amount of dividends that was paid to each class of stock, b) Compute the amount of dividends per share for each class of stock.
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