Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Accounting
Consider the following scenario:
A small equipment company is preparing its annual financial statements in anticipation of applying for a loan. During the last week of the year, the company received a shipment of inventory but has not paid for it. The invoice indicates that the company owes $5,000 for the purchase. The owner, Randy Ray, has decided to omit this asset and the related liability from the year-end balance sheet, reasoning that it is okay because he is omitting both of them, which means there is no difference in owners' equity.
For this assignment you are to address the following:
• What is your opinion of Randy's reasoning? (1 paragraph)
• Explain the circumstances under which Randy's decision would be acceptable under GAAP and circumstances under which it would definitely be unacceptable. (3 to 4 paragraphs).
For 2010 Kuhlman Corporation reported net income of $28,000; net sales $400,000; and average share outstanding 6,000. There were no preferred stock dividends. What was the 2010 earnings per share?
bamba corporations cost formula for its selling and administrative expense is 47900 per month plus 52 per unit. for the
in a february 10 2003 businessweek article cvss potent growth potion joseph agnese points out that the retail pharmacy
dsl company has two manufacturing departments - the machining department and the assembly department. each department
the comparative financial statements of blige inc. are as follows. the market price of blige inc. common stock was 57
Understand the concept of sustainable income. Indicate how irregular items are presented. Explain the concept of comprehensive income.
Explain the concept of depreciation. Which of the following depreciation methods would you recommend: straight-line depreciation, double declining balance method, or an lternative method?
Do you receive a form 1099? Why should you receive a higher hourly rate than if you were issued a W-2 Form (this relates to the self-employment tax of 14.3% based on 7.65% as the withholding from the employee and the match paid by the employer as p..
during 2005 patnode announced and paid dividends of 1000 the only dividend-related activity during the year. what was
problem 4-21 using internal control to restrict illegal or unethical behavior required for each of the following
company x purchases all its required inventory exactly 1 quarter prior to the quarter of sale. the cost of inventory is
Kirby is in the 15% tax bracket and had the following capital asset transactions during 2010:
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd