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1. An entry to record Purchases and related Accounts Payable of $13,000 for merchandise purchased on December 23, 2011, was recorded in January 2012. This merchandise was not included in inventory at December 31, 2011. What effect does this error have on reported net income for 2011? What entry should be made to correct for this error, assuming that the books are not closed for 2011?
In your planning for the audit, you discover that the building industry is experiencing a significant decline which increases the risk of misstated material account balances such as bad debts. You discover that the credit manager of the company re..
Write an engagement letter for Apollo Shoes. Assume that Apollo Shoes is a publicly traded company and that they have asked for SOX Section 404 consulting. Include the following key points:
using the appropriate interest table compute the present values of the following periodic amounts due at the end of the
calvo co. reports the following information for 2014 sales revenue 350000 cost of goods sold 250000 operating expenses
Develop a plan for an event (e.g., golf tournament; gala ball; annual meeting; or a series of lectures, workshops, or seminars where a fee is charged for attendance or participation) for your organization.
hagar co. computed an overhead rate for machining costs 1500000 of 15 per machine hour. machining costs are driven by
On December 31 of the current year, Hewett Company reported an ending inventory balance of $216,500. The following additional information is also available:
Define an agency relationship.
Select an Initial Public Offering (or a Secondary Offering) completed in the last 10 years in U.S. capital markets, and discuss and analyze this IPO in 7-8 pages, double-spaced.
Think of a job you have held, and consider whether the control environment was risky or conservative. Describe which you chose and why
Analyze the primary accounting issues which form the crux of the litigation or fine for the firm, and indicate the impact to the firm as a result of litigation or fine. Provide support for your rationale.
If disposal of a plant asset occurs during the year, depreciation is: a. not recorded for the year. b. recorded for the whole year. c. recorded for the fraction of the year to the date of the disposal. d. not recorded if the asset is scrapped.
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