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Why might a bank statement reflect a balance that is larger than the balance recorded in the depositor's books? What could cause the bank balance to be smaller than the book balance?
Identify literature that addresses disclosure of accounting policies.. how are the accounting polocies defined.. what are the 3 scenarios that would result in detailed disclosure of accounting methods used.
May Inc., has one shareholder,Paula, whose basis in May's stock was $100,000 on 1/1/10. During 2010, May distributed $300,000 to Paula. What is the amount of the distribution that would be treated as a dividend by Paula?
golden sales has bought 135000 in fixed assets on january 1st associated with sales equipment. the residual value of
In 2010, Wild Corporation reported a net loss of $70,000. Wild's only net income adjustments were depreciation expense $81,000, and increase in accounts receivable $8,100. Compute Wild's net cash provided (used) by operating activities.
The company has a reportable segment if that segment's revenue exceeds what amount and what is the total amount of expense relating to these three items that should be reported?
Assume that the real risk-free rate, r, is 3 percent and that inflation is expected to be 8 percent in Year 1, 5 percent in Year 2 and 4 percent thereafter.
Why are asset and liability definitions important to the theoretical structure of accounting? Why are definitions important to policy setting bodies?
There are four steps in the auditor's process of understanding internal control and assessing control risk for a public company. The first step is to obtain and document an understanding of internal control: design and operation. What are the rema..
Distinguish between a cost center, profit center and an investment center. Provide an example of each type.
Under the new method sales would increase by 15 percent each month, and net income would increase by one third. Fixed cost could be slashed to only $15,000 per month. Calculate the breakeven point for the company before and after the change in mar..
Midlands Design Ltd. of Manchester, England, is a company specializing in providing design services to residential developers. Last year the company had net operating income of £400,000 on sales of £2,000,000.
At the end of the year, Watkins still holds only $20,000 of mechandise. What ammount of unrealized gross profit must Panner defer in reporting this investment using the equity method?
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