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Assignment :
1. Demonstrate an understanding of basic accounting concepts and how these apply apply to business
2. Outline and contrast cash and accrual bases on accounting
3. Prepare a range of financial statements
4. Distinguish the activities of a service business from those of a merchandising business and explain how accounting systems work for these businesses
5. Demonstrate an understanding of the various methods to monitor inventory
6. Describe the nature of cash and importance of internal control over cash
There were no dividends declared in 2009. The board of directors declares and pays a $90,000 dividend in 2010 and in 2011. Illustrate what is the amount of dividends received by the common stockholders in 2011?
The company re - computes its predetermined overhead rate every month. Evaluate the predetermined overhead rate for August
Clearly Discuss below two potential non-misstatement timing differences that could cause a discrepancy between a client's receivable records and his/her customer's records.
Compare and contrast the different types of audit risk. Determine the type of risk that you think is the least detrimental and the most detrimental. Defend your answer.
Ethical frameworks were discussed in chapter four of the text and you should be recognizable with these from Business Law. APA format.
If 5% typically need to be replaced over the warranty period and one is actually replaced during September, for what amount in September would Excom debit Product Warranty Expense?
Discuss ramifications and implications of Section 1031 exchanges and Section 121 exclusions, considering the impact of the recent increase in housing prices and the initial decline in housing today.
Determine the firm's weighted average cost of capital using book value weights. Explain how the firm can use the cost in the investment decision-making process.
Evaluate the cost assigned to ending inventory and to cost of goods sold using a) specific identifacation, b) weighted average, c) FIFO and d) LIFO
Compute the company's return on assets ratio, profit margin ratio, and asset turnover ratio, both with and without the new product line.
Assume that the scarce resource for the firm is time, that is if an hour more is spent on producing one more product, there would be an hour less spent on producing another product. The company should produce: highest contribution margin or con..
Inc report revenues of $14,892,615, net operating profit after tax of $987,625, net operating assets of $6,124,587. The fiscal 2009 balance sheet reports net operating assets of $5,995,633. Illustrate what is Neptune’s 2010 net operating profit m..
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