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Assignment
1- Identifies potential ethical issues that the new accountants may face.
2- "An accountant has agreed to be named as the executor of a client's will. The will provides that the accountant will receive a fee equal to 1% of the assets under management and will receive a fee equal to 5% of estate net income during the existence of the estate." Do you see any ethical conflicts of interest potentially arising out of this arrangement?
3- CPAs need to maintain integrity and objectivity, but in some roles independence is not necessary. Do you feel independence is necessary in the role of a fiduciary? How are conflicts of interest avoided as a fiduciary?
Assume the same situation as in Question 11, except that the four equal amounts are deposited at the beginning of the period rather than at the end.
Ryan's Fish House purchased supplies costing $3,000 for cash. This amount was debited to the supplies expense account. At the end of the year, December 31, 20--, an inventory showed that supplies costing $500 remained. Prepare the adjusting entry.
gross income. susans salary is 44000 and she received dividends of 600. she received a statement from sj partnership
If your school has a subscription to the FASB Codification, go to http://aaahq.org/ ascLogin.cfm to log in and prepare responses to the following.
The cash equivalent price of the machine was $25,000. Due to an employee strike, Volmar could not install the machine immediately, and thus incurred $300 of storage costs. Costs of installation (excluding the storage costs) amounted to $800. The a..
the american institute of certified public accountants aicpa and the institute of internal auditors iia have positioned
Show how double taxation on a taxpayer may result if all countries were to tax the worldwide income of their residents and the income earned within their territorial boundaries.
Evaluate the general procedure of accounting for bankruptcies and create at least one recommendation for improving existing practices. Providing examples of just how your recommendation would be an improvement can be helpful.
beata corp. has the following sales forecasts for the selected three-month period in the current year month sales april
Comparing stocks versus bonds:
Fisher Corporation invested $320,000 cash in available-for-sale marketable securities in early December. On December 31, the quoted market price for these securities is $337,000. Which of the following statements is correct?
Convertible Preferred stock and Convertible Bonds were issued at Par Value.
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