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Which of the following does the FASB consider a source of nonauthoritative guidance for use then there is no authoritative guidance available?
1) the fasb codification
2) fasb concepts statements
3) sec rules
4) sec interpretive releases
What is the best way to explain accounting to a non-accountant? Analyze the importance of having a good understanding of accounting, and the implications of a lack of understanding have for business?
Interest has not been accrued since the last interest payment date. What is the entry to record the cash proceeds at the time the bond is sold?
Using the above data, fill in the following blanks with the variance amounts. Use F for favorable or U for unfavorable for each variance. Total Overhead Variable Fixed, 1. Spending variance , 2. Efficiency variance ?, 3. Production-volume variance ?,..
First assume that all of the deferred money and accumulated interest is paid out along with the final salary payment at the end of 2012. Use 5.5% as the discount rate. What is the present value (as of the signing date) of Ichiro's contract under t..
Network Communications has total assets of $1,400,000 and current assets of $600,000. It turns over its fixed assets 4 times a year. It has $300,000 of debt. Its return on sales is 5 percent. What is its return on stockholders' equity?
They also have a policy of maintaining a raw material inventory at the end of each month equal to 20% of the pounds needed for the following month's production. There were 3,920 pounds of raw material on hand at Dec. 31, 2010, For the first quarter o..
The City of Martinville had the following pre-closing account balances in its General Fund as of June 30, 2012. Debits and credits are not separated; each account had its "normal" balance.
For the month of April, actual direct labor hours amounted to 2,000. In April, Thorp's standard direct labor rate per hour was:
Calculate the annual lease payments. (Remember, these payments are to be considered at the begining of each year - annuity due.
Under GAAP, an entry should be made to the bad debt expense account
A new computer is purchased that can do the same job in 5 days. How long would it take to do the job with both computers working on it?
Please describe the accounting treatment when a company purchases less than 20% of another company's stock. Please describe how revenue and dividends are treated when the equity method is used.
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