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Tao Co. receives $10,000 cash in advance for 4 months of legal services on October 1, 2013, and records it by debiting Cash and crediting Unearned Revenue both for $10,000. It is now December 31, 2013, and Tao has provided legal services as planned. What adjusting entry should Tao make to account for the work performed from October 1 through December 31, 2013?
Determine the financial impact, both positive and negative, of excluding such sales completely or of merely excluding the profit or gain embedded within the income of the sales.
If the company follows the residual dividend policy, how much net income must it earn to meet its capital requirements, pay the dividend, and keep the capital structure in balance?
Evaluate the importance of ethics in accounting. Do you think ethical behavior is more or less important in this profession than in others? Defend your position. Analyze the code of professional conduct, including enforceable and non-enforceable p..
The tax law provides very favorable tax treatment for long term capital gains. First, explain what that favorable treatment is. Second, why? Why does the tax law provide favorable treatment for long term capital gains? Do you agree that they shoul..
shawn bates was working to establish a business enterprise with four of his wealthy friends. each of the five
discuss one measure of performance of a company and indicate what the significance of a lower or higher level of such
A dilutive security can be either a bond or a preferred stock. The reason they are referred to as a dilutive security is because the security can be converted into common stock and share in the 'earnings per share' computation.
your audit team is conducting year-end inventory counts for a client and is debating the impact of the clients right of
fowler manufacturing company has a fixed cost of 225000 for the production of tubes. estimated sales are 150000 units.
what are the portfolio weights for a portfolio that has 205 shares of stock a that sell for 98 per share and 180 shares
which of the following costs are included in the cost classification that is based on the time frame perspective?a.
ess essential company normally produces and sells 4000 video monitors for personal computers each month. variable
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