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Depreciation of general capital assets is not recorded in the accounts of any of the governmental funds. If a building is transferred from the General Fund to an internal service fund because the character of its use changes, should the internal service fund record building depreciation expense each year after the transfer? Explain.
If operating lease commitments are considered equivalent to debt, what percentage of the American's debt is represented by the lease liabilities?
In the current year, David and Debbie Wayland, both successful physicians, made cash investment for a limited partnership interest in a California berry farm. In addition to the cash obtained from the investors-Identify the tax issues facing the W..
Using Excel show all formulas for following: Firm has current assets of 100 million and current liabilities of 50 million and goes belly-up.
Compute the weighted-average number of shares to be employed in computing earnings per share for 2013.
A foreign currency transaction gain will be recognized by a U.S. company when it has a receivable from a foreign company
Make the journal entries to record the following transactions in Hunt Ltd’s records by using perpetual inventory system.
The books of Conchita Corporation carried the following account balances as of December 31, 2010. Prepare the journal entries required for the dividend declaration and payment assuming that they occur simultaneously.
Describe the maturity matching principle. What are the risks of not matching maturities? How would you characterize a firm that ignores the principle? Can you think of situations in which it would be advisable for an otherwise prudent firm to dev..
Prepare the adjusting entries using good form for each of the following situations as of January 31 (measurement date) for the one month of January
After the events of September 11, we were without our securities markets for few days. Though, it was a difficult condition, the markets opened in a few days and we managed.
What financial instruments (financial assets and financial liabilities) are not eligible for an entity to use the fair value option of accounting?
According to US GAAP, what should be the basis for reporting the assets and liabilities of Small within consolidated financial statements created on the date of acquisition?
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