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The subject of revenue recognition is one that has been in the news for numerous companies in the past year. Locate an article on the subject of revenue recognition concerning a company (hint: when companies "restate their earnings", they are often corrected a revenue recognition error) and post a brief summary of the article to the forum. Include your analysis of how the revenue recognition concepts we have studied are in conflict with how the company originally reported their revenue and why you believe the restatement is required.
at the beginning of 2009 emily corporation issued 19000 shares of 100 par 8 cumulative preferred stock for 110 per
How is the assumption of liability by the transferee from property given by the transferor treated by the transferor in a like-kind exchange? Also, explain whether the transferor assumes liability on property received.
chester amp wayne is a regional food distribution company. mr. chester ceo has asked your assistance in preparing
a company sells magazines and collects subscription fees prior to the publication and distribution of the magazine. as
Garnet Corporation was organized by issuing 100,000 shares of $1 par value common stock at a price of $50 cash per share. During the first year, Garnet had net income of $250,000 and paid $50,000 dividends. What is the balance sheet amount for com..
during 2011 comet cares inc. decided to sell an unprofitable segment of its business. the sale of this segment
Auditors must be concerned with both generally accepted auditing standards and generally accepted accounting principles in performing an audit.
lightning electronics is a midsize manufacturer of lithium batteries. the companys payroll records for the november
trevor hancock has just retired. he has set aside enough money in his retirement fund to be able to withdraw 15000 per
uncle john promised tom come and take care of me and i will leave you the farm when i die. tom took care of uncle john
vincent pays 20000 for equipment to use n his trade or business. he pays sales tax of 800 as a result of the purchase.
which product should have a larger markup over variable cost a product whose demand is elastic or a product whose
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