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Discussion 1:
The accounting equation is Assets = Liabilities + Owner's equity. Is the accounting equation true in all instances? Provide sample transactions from your own experiences to demonstrate the validity of the accounting equation.
Discussion 2:
What does the term account mean? What are the different classifications of accounts? How do the rules for debits and credits impact accounts? Please provide an example of how debits and credits impact accounts.
crystal telecom has budgeted the sales of its innovative mobile phone over the next four months as followssales in
How he is violating the GAAP principles of revenue recognition - How the revenue should be recognized.
Graceland writes the inventory down from $95,000 to its lower market value of $82,000 at the end of the year. Elvis owns 75 % of Graceland. Based on this information, what amount of inventory should be eliminated in the consolidation workpaper for..
What were the most compelling topics learned in this course - How did participating in discussions help your understanding of the subject matter?
Using Financial Statement Disclosures to Infer Bad Debt Expense The 2009 annual report for Sears Holding Corporation contained the following. Using Financial Statement Disclosures to Infer Bad Debt Expense. Determine the Bad Debt Expense for 2009 bas..
If the company were to buy the component, the machine would no longer be rented. The rent on the machine, in relation to the decision to make or buy the component, is:
columbia enterprises is studying the replacement of some equipment that originally cost 74000. the equipment is
You work for Thunderduck Custom Tables Inc. This is the first month of operations. The company designs and manufactures specialty tables. What is the ending balance for raw materials? What is the ending balance for work in process? What is the endi..
Tina and Betty formed a partnership. Tina received a 40 percent interest in the partnership in exchange for land with an adjusted basis to her of $60,000 and a fair market value of $80,000.
Samples are to be taken from two independent normal populations, one with variance σ2 = 10, the other with a variance twice the magnitude of the ?rst one.
If Burr refinances the obligation by issuing a long-term note on February 14 and using the proceeds to pay off the note due February 15, how much of the $500,000 should be reported as a current liability at December 31, 2010?
As part of an auditor's understanding of the client's internal controls governing their financial statements, an auditor is not obligated to determine whether the controls have been implemented. True/False? Why?
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