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Which of the following, if any, is considered in applying the support test for dependency exemption purposes?
a. A scholarship received by the person to be claimed as a dependent.
b. The income of a dependent that could have been used for support.
c. The citizenship of the person to be claimed as a dependent.
d. Capital expenditures made on behalf of the person to be claimed as a dependent.
e. None of the above.
Explain the impact of occupational fraud and abuse on the company. Explain the four potential corruption schemes to be aware of within the company?
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.
Also, during the current year, the company earned net income of $12,000 and declared cash dividends of $5,000. Compute the year end retained earnings balance
Prepare the adjusting entry at December 31, and using T accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account.
Required: Based on the above information, compute the amounts that should appear in the consolidated financial statements prepared for Barnes Company and it subsidiary, Dean Company, at year end for the following items: 1) sales; 2) cost of goods sol..
Suppose the National Bank of Commerce has excess reserves of $12,000 and outstanding checkable deposits of $150,000. If the reserve ratio is 20 percent, what is the size of the bank's actual reserves?
Garner has sufficient unused capacity to produce the 2,000 scales. If the special order is accepted, what will be the effect on net income?
Included in this amount is dividend income of $60,000 from another corporation in which the taxpayer owns 90 percent of its stock outstanding. The corporation's taxable income (loss)after the DRD is?
During the current month, a company that uses a job order cost accounting system incurred a monthly factory payroll of $120,000 paid in cash. Of this amount, $30,000 is classified as indirect labor and the remainder as direct. Prepare entries to r..
On January 10, 2012 Badger Co. purchased 30% of the outstanding stock of Crest Co. fir $123,000. Crest paid total dividend to all shareholders of $15,000 on July 15. Crest had a net loss of $25,000 for 2012.
Estimate the change in the company's net operating income if it were to increase its total sales by $1,800.
Determine the equivalent units and costs per equivalent unit for materials and conversion costs. Are the ending balances in the WIP and Finished Goods inventory as shown correct? If they are not correct, what should the ending balances be?
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