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Discussion Accounting
What is double-entry accounting and why was it such a game changer?
You are the sole accountant at your company. Sales in 2016 have been mediocre but prospects for 2017 look promising. At year end, the president of the company comes to you and says he needs to boost profits and wants you to accrue revenues into 2016 and defer expenses into 2017. Ethically, can you accrue revenues and defer expenses?
Identify steps in the accounting cycle
Evaluate transactions and its financial statements impact
Apply accrual accounting concepts.
Examine financial information for decision making
Please Make sure to answer all with at least 75 words each.
The motel has annual fixed costs of $345,000 and variable costs averages $15.00 per room occupied. a. Calculate the motel's breakeven level and its occupancy percentage.
aracel engineering completed the following transactions in the month of june.nbspa.jenna aracel the owner invested
Uncollectible accounts are determined by the aging method to be $2,740. Compute the uncollectible account expense for 2006.
Justin and Tiffany form the equal TJ Partnership, Justin contributes cash of $20,000 and land (fair market value of $80,000, adjusted basis of $65,000), and Tiffany contributes the assets of her sole proprietorship (value of $100,000, adjusted bas..
Explain the role of the FASB in monitoring and controlling business reporting and accounting practices in the modern organization. In what ways do FASB rules limit business practices and reporting financial information? How do such rules and regul..
Assume the same facts except that Loon's long-term capital gain is $100,000 (instead of $60,000). Compute Loon's taxable income for the year.
Propose that this information be shown by a footnote on the balance sheet as of December 31, 2012.
Evaluate whether the most significant failure occurred within the system design, implementation, or operational phase of the process. Indicate what the company could have done to avoid the failed outcome.
1. you keep the accounting records for a small merchandising corporation which operates on a fiscal year that ends on
The Pew Internet & American Life Project routinely conducts surveys to gauge the impact of the Internet and technology on daily life. A recent survey asked respondents if they read online journals or blogs
here are 2 hypothetical examples of manufacturing companiesltbr gt1. williams watches builds fine watches by hand sell
Prepare Simmons's entries related to Armstrong's net income and dividends, assuming Simmons now owns 10% of Armstrong's stock.
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