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The primary revenue source for not-for-profit organizations is contributions. Please define what a contribution is, and discuss how the different types of contributions are recognized as revenue (i.e. cash contributions, unconditional promise to give, conditional promise to give, multi-year pledge).
At the beginning of the year, Albers, Inc., has total stockholders' equity of $840,000 and 40,000 outstanding shares of a single class of capital stock.
Accounting basics Multiple choice questions. Make your selection by recording the letter in the answer box provided.
At the start of february pete's had salaries payable outstanding of $17,000. on february 4th,pete sent out paychecks to its employees valued at $20,000. prepare the journal entry for this transaction.
On creating a new 100 percent-owned corporation, Ben was advised by his tax consultant to treat 50 percent of the total amount that was invested as a loan and 50 percent as a purchase of corporate stock.
In deciding whether or not to accept a special order, what is the opportunity cost of using machinery for which the firm has sufficient excess capacity to accept the order?
The economic life of the software is estimated at four years. 2012 amortization of the software development costs would be:
What are tax loopholes? How do loopholes arise? Do you think it is ethical to take advantage of tax loopholes? - Answer in 150-200 words.
Prepare an income statement through gross profit for the year ended December 31, 2004.
Fishbone Corporation bought a new machine and agreed to pay for it in equal annual installments of $4,570 at the end of each of the next 10 years. Assuming that a prevailing interest rate of 10% applies to this contract, how much should Fishbone r..
Sally incurred a 90-mile round-trip commute every day, mainly because she could not get along with her supervisor at the sales office located four miles from her home. Sally works under a one-year contract
What is a committed fund balance in a governmental funds balance sheet? How does it differ from a restricted fund balance?
Identify some additional control procedures that the company might implement to reduce the monthly loss from theft of office supplies by employees.
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