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The cash budget is especially important to a firm when:
a. there is not a lot of confidence in the sales forecast.
b. it has a relatively large amount of operating cash.
c. their liabilities are relatively small and are not expected to increase in the near future.
d. it may have to negotiate a short-term bank loan.
Aceton Corporation owns 80 percent of the outstanding stock of Voctax, Inc. During the current year, Voctax made $140,000 in sales to Aceton. How does this transfer affect the consolidated statement of cash flows?
Metro Express has 5 sales employees, each of whom earns $4,000 per month and is paid on the last working day, of the month. Each employee, wages are subject to FICA social security taxes of 6.2% and Medicare taxes of 1.45% on all wages.
Yard Tools manufactures lawnmowers, weed-trimmers, and chainsaws. Its sales mix and contribution margin per unit are as follows.
The information below relates to Milton Company's trading securities in 2010 and 2011. (a) Prepare the journal entries for the following transactions.
Why does it appear that to be highly successful (particularly in a financial sense), we assume that the gains are achieved unethically? Would you cite examples of how (or when) positive and normative theory are used together? What is the benefit of..
On its December 31, Year 1 financial statements, Novastar Corporation would display the following balances: Unamortized Accrued Interest; Bonds Payable Premium Payable Expense:
For the year ended December 31, Laramie Industries has a depreciation expense per its tax return greater than its financial statement tax expense, and had recorded warranty expense
Bass Lake Eatery borrowed $10,000 from the bank on April 1. The note is a 1-year, 12% note, with both principal and interest to be repaid on March 31, 2011.
Flores Corporation recently hired a new accountant with extensive experience in accounting for partnerships. Because of the pressure of the new job, the accountant was unable to review his textbooks on the topic of corporation accounting.
In response to these problems, Congress passed the Sarbanes-Oxley Act of 2002. Recommend internal controls that would satisfy the Sarbanes-Oxley Act.
The parent company's share of the fair value of the net assets of a subsidiary may exceed acquisition cost. How must this excess be treated in the preparation of the consolidated financial statements? What is the reasoning that supports this treat..
How may an online securities company (ETrade, Schwab, etc.) differentiate themselves in market? What are the opportunities for future growth? Please give a detailed response.
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