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A balance scorecard's financial area focuses on how an organization adds value to shareholders. You currently work for a CPA firm and have two clients: a partnership and a church. Both organizations do not have shareholders. Even though a balanced scorecard is a vital tool for organizations, you do not consider the financial area relevant for your two clients. Is this a fair assessment? Does the type of organization affect the relevancy of a balanced scorecard's four components? Explain.
If Dizbert Company concluded that an investment originally classified as available for sale would now more appropriately be classified as held to maturity, Dizbert would:
A house worth $70,000 is purchased with a down payment of $20,000 and a mortgage amortized over 20 years. If the interest rate is 14% compounded semi- annually;
Albert transfers land (basis of $140,000 and fair market value of $320,000) to Gold Corporation for 80% of its stock and a note payable in the amount of $80,000. Gold assumes Albert's mortgage on the land of $200,000.
Compute depreciation for 2011 and 2012 and the book value of the drill press at December 31, 2011 and 2012, assuming the straight-line method is used.
Race decided to use the equity method to account for this investment. What was the noncontrolling interest's share of consolidated net income?
On July 1 of the current year, the assets and liabilities of John Wong, DVM, are as follows: Cash, $15,000; Accounts Receivable, $12,300; Supplies, $3,100; Land, $35,000; Accounts Payable, $8,700. What is the amount of owner's equity (John Wong's ..
Innovation, Inc., a 501(C) (3) medical research organization, makes lobbying expenditures of $1.1 million. Innovation incurs exempt purpose expenditures of $15 million in carrying out its medical research mission.
Leppard Corporation sells DVD players. The corporation also offers its customers a 2-year warranty contract. During 2012, Leppard sold 20,000 warranty contracts at $103.80 each.
• How does the debit impact each account type? • How does the credit impact each account type?
Prepare a list of your Top Four Managerial Accounting Concepts. Please explain the concepts. You should write at least three sentences about each concept. Do not just state that you liked the concept or found it interesting. You must EXPLAIN the c..
Suppose Barry had doubled its sales as well as its inventories, accounts receivable, and common equity during 2004. How would that information affect the validity of your ratio analysis?
Emu Company which was formed in 2010, had an operating income of $200,000 and operating expenses of $120,0000 in 2010. In addition, Emu had a long-term capital loss of $10,000. How does Andrew, the owner of Emu Company, report this information on ..
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