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At Dec 31, Year 1, Grey, Inc. owned 90% of Winn Corp, a consolidated subsidiary, and 20% of Carr Corp., an investee in which Grey cannot exercise significant influence on the same date, Grey had receivables of 300,000 from Winn and 200,000 from Carr. In its Dec 31, Year 1 consolidated balance sheet, Grey should report accounts receivables from affiliates of:
a) 500,000
b) 340,000
c) 230,000
d) 200,000
Which of the following statements is true? Once adopted, an accounting period normally cannot be changed without approval by the IRS.
Explain briefly the difference between those two methods of applying an accounting change. First give a definition of the two types of applications and then answering this question: If I were going to switch depreciation methods from straight line ..
You are the vice president of operations for a small manufacturing company that uses the absorptive method of accounting for fixed manufacturing overhead, and you are approaching the end of the year.
Describe situations where you have effectively demonstrated each of the forms of communication mentioned. What did you do to help you communicate effectively?
A tabular analysis of the transactions made during August 2010 by Witten Company during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained.
On March 3, Hinckley Appliances sells $580,000 of its receivables to Marsh Factors Inc. Marsh Factors assesses a finance charge of 3% of the amount of receivables sold. Prepare the entry on Hinckley Appliances' books to record the sale of the rece..
What would incomplete units physically look like at the end of any given part of the process? For example, at the end of the distillation process and then at the end of the final bottling process
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What are the two techniques used to convert trial balances from foreign currencies in U.S. dollars? Explain the situations when you would employ each metod.
On December 1, 2007 Gates Company borrowed $45, 00 cash from FirstBank on a 90-day, 9% note payable. Prepare Gate's general journal entry to record the insurance of the note payable.
If you are currently with a company that uses some elements of a balanced scorecard, post this information to the forum for this assignment. Discuss the advantages and disadvantages of the presented information..
Research a large multinational company in which you might like to invest. Then estimate the most significant risk factors associated with investing in company you selected when compared with investing in the domestic company.
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