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What are the main approaches for setting transfer prices? How can the problems that these approaches create be reconciled between the selling and buying divisions?
Gerken Company concluded at the beginning of 2013 that the company's ownership interest in DillCo had increased to the point that it became appropriate to begin using the equity method to account for the investment.
A preliminary analytical review of the company's most recent balance sheet and income statement
In the current year, Orion Corporation (E & P of $2 million) distributes all of its property in complete liquidation. Allie, a shareholder, receives land having a market value of $300,000.
Distinguish between liquidity and profitability.
The income from the business before the cost recovery deduction and the 179 deduction was 810k. She takes additional first year depreciation. Determine the cost recovery deduction with respect to the asset for 2013.
In light of the business scandals of the last few years, does the AICPA's Code of Professional Conduct work? What is the area of greatest concern?
In November 2011, Kendall purchases a computer for $4,000. She does not use Sec. 179. She only uses the most accelerated depreciation method possible.
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.
Analyze the strengths and weaknesses of the Form 10-K information and disclosures in terms of whether they provide relevant and reliable information to investors.
What amount of interest expense will be displayedon the 2013 income statement? c) What amount of liability for the note will be displayed on the balance sheet on December 31, 2013?
Accounting Homework: Explain in general terms the accounting treatment to changes in terms of existing loans. What should be the accounting treatment of the modification to Blueberry's note?
On the first day of the current fiscal year, $1,500,000 of 10-year, 8% bonds, with interest payable semiannually, were sold for $1,225,000. Present entries to record the following transactions for the current fiscal year:
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