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1. As a small business owner in today's economy, what three financial reports would you use on a regular basis? What information would you find on each statement? What decisions might each statement help you make? Please provide specific examples
2. The accounting equation is assets = liabilities + owner's equity. Please explain the relationship between economic resources and claims to economic resources. Why must this equation always balance? What transactions increase or decrease owner's equity? How does net income or loss affect owner's equity? Please give an example of a transaction, applied to the accounting equation.
3. There are four methods for inventory costing: LIFO, FIFO, weighted average and specific identification. What are the differences between each method? How does each method affect the balance sheet and the income statement? What do I mean when I say that inventory costing methods are not related to the physical flow of inventory? Please give an example.
The offer was made individually to each client by presenting a sealed envelope so the clerk providing the offer did not know the details of the offer.
Which of the following represents the most expansionary fiscal policy? A. a $10 billion tax cut B. a $10 billion increase in government spending
Journalize each transaction. Use the following account names: Cash, Short-term Investments, Dividend Revenue, Unrealized Gain (Loss) on Investment, and Gain on Sale of Investment - Prepare a computation of net sales for the month of July.
1.some tax rules can be justified on multiple grounds e.g. economics social etc.. in this connection comment on the
ace chemical company manufatures a liquid used to was boats. ace began 2011 with 10000 units in process with cost of
explain three issuesproblems that a company could face when trying to determine the actual cost of a good or service to
Changes in Inflation Assume that the inflation rate in Brazil is expected to increase substantially. How will this affect Brazil's nominal interest rates and the value of its currency (called the real)?
If a check correctly written and paid by the bank for $428 is incorrectly recorded on the company's books for $482, the appropriate treatment on the bank reconciliation would be to:
lmn ltd has the following data relating to its assembly plant for the year to 31 march year 7poundmaterial
on january 1 2009 carlin corporation issued 2400000 of 5-year 8 bonds at 95 the bonds pay interest semiannually on july
the following account balances relate to the stockholders equity accounts of gore corp. at
After all revenue and expense accounts have been closed at the end of the fiscal year, Income Summary has a debit of $193,400 and a credit of $258,600.
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