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The two main types of pension plans are defined benefit plans and defined contribution plans. Explain the difference between the two. How does the accounting for each differ? With defined benefit plans, there are several levels of benefit obligations for the company. List these and describe what each represents. Which does GAAP require with recognition and why.
If you received the utility bill for $400 but the bill is not due until the 15th of the following month how would you journalize them? What account would be debited and what would be credited?
Custom Computers is a company started by two engineering students to assemble and market personal computers to faculty and students. The company operates out of the garage of one of the students' homes. From the following costs of a recent month, ..
At Flint Company's break-even point of 9,000 units, fixed costs are $180,000 and variable costs are $540,000 in total. The unit sales price is:
On September 1, 2009, Barrett Corporation signed a one-year, 8% interest-bearing note payable for $50,000. Assume that Barrett Corporation maintains its books on a calendar year basis. What amount should Barrett Corp. record as interest expense fo..
A useful tool in financial statement analysis is the common-size financial statement. What does this tool enable the financial analyst to do?
Describe weaknesses in internal control over information and data flows and the procedures for processing shipping notices and customer invoices, and recommend improvements in these controls and processing procedures.
The service unit or output for this department is the number of procedures performed. A static budget was prepared at the beginning of the year. You are now tasked with examining that budget in relation to actual experience.
On November 1, Carter Company signed a 120-day, 10% note payable, with a face value of $9,000. What is the adjusting entry for the accrued interest at December 31 on the note?
Why is preferred stock referred to as "preferred"? What are some of the features that are added to preferred stock to make it more attractive to investors?
Jeremy reported net income of $50,000 for 2003. Non-controlling interest income that will appear in the consolidated income statement for 2003 is:
Jimmy owns a trucking business. During the current year he incurred the following:
Determine the stakeholders impacted by audit reports. Analyze the impact of audit reports for each category of stakeholders.
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