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Discovery Barn, a not-for-profit science center for children, received a contribution for $30,000 explicitly designated for the acquistion of computers. During the year it acquired $21,000 of computers, which it estimated to have a useful life of three years. It is the policy of the organization to charge an entire year's depreciation in the year of acquisition.
Prepare all required journal entries, being certain to indicate the type of fund in which each entry would be made.
Identify characteristics that distinguish NFP from business enterprises. Specifically identify, from most important to least important, five accounting issues relevant to NFP financial reporting and explain your rationale by reference to existing ..
Determine that the financial statements present fairly in accordance with generally accepted accounting principles.
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.
What amount of dividends must the company pay the preferred shareholders in 2009 if they wish to pay the common stockholders a dividend?
Term Structure of Interest Rates
What financial factors should management consider when deciding whether to sell a product at the split off point or process it further?
What are the different ways to estimate bad debt? How does this affect net income? What does Generally Accepted Accounting Principles (GAAP) require? Why? Should all companies have bad debt? Explain your answer.
You're a US company with a customer that is going to pay you 10,000 Euros in six months. The correct futures hedge for this condition is to enter in a contract in which you buy Euros (True or False)
Which of the following would an auditor most likely use in determining the auditor's preliminary judgment about materiality?
Accounting Homework: Explain in general terms the accounting treatment to changes in terms of existing loans. What should be the accounting treatment of the modification to Blueberry's note?
Compute the sales level that would generate a 20% return on investment. Supposing the rate of return is 15%, determine the level of sales that would generate $200,000 of residual income.
What role(s) does corporate social responsibility play in the development of a safety-first culture? What documents and strategies can management adopt to ensure that a corporate safety-first culture exists?
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