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Part-1
Look at the four basic financial statements for any publicly traded corporation. You can find them at the SEC website using their search tool here. Find the total assets, liabilities, and shareholders' equity for the most recent year (in the annual report). Study the income statement for the most recent year. What information do these statements provide? Make a list of 10 questions you have about the financial statements. Save the list so you can check to see how many of the questions you are able to answer at the end of the course.
Part 2
You are a consultant who advises potential new business owners. An acquaintance is planning to start a small business that he wants to run as a sole proprietor. But he explains that he does not understand other business forms that he may adopt, and two of his friends may want to join the business in management roles. The business will be a landscaping firm that is expected to grow rapidly and require large investments in equipment in two to three years. Create a PowerPoint presentation for the potential new business owner that compares and contrasts the three main business forms and addresses advantages and disadvantages of each form. Include examples of types of businesses that would best fit each form. Present your recommendation for best business type for the new business owner.
From an accountant’s perspective, separation of duties is self-explanatory. Explain how do small companies that have minimal accounting staff deal with this issue? Explain how might you, as owner of a small business, ensure the integrity of your f..
The supervisor of the Logistic's Department has suggested to the plant manager that a new machine costing $285,000 be purchased to improve material handling operations for the plant's newest product line. How should the plant manager proceed with ..
Explain factors that should be considered when applying the conventional concept of depreciation to the determination of how the value of a newly acquired computer system should be assigned to expense for financial reporting purposes.
Beginning and ending accounts receivable are $76,000 and $42,000, respectively. Sales for the period total $384,000, of which $40,000 was directly for cash. How much cash was collected from making sales and collecting accounts receivable?
Creat a journal entry to record income taxes for the year 2010. Show well-labeled computations for the amount of income tax payable and the change in the deferred tax account.
The subsequent accounts are denominated in pesos as of 31st December, 2013. For reporting purposes, these amounts need to be stated in U.S. dollars.
What would be the effect on the company's overall net operating income if product L28N were dropped?
In your assignment, consider the costs and benefits to the company and various stakeholders of reporting on social and environmental impacts
Estimated revenues from the subsequent sources were legally budgeted. Appropriations for the subsequent functions were legally budgeted.
Find the difference between positive and normative economics? Which is more prevalent in today's economics? Why?
Income before bonus and income taxes is $400,000. The effective tax rate is 30%. How much is the bonus(rounded to the nearest dollar).
Assume that once the year ends, the company determines that 12,000 machine hours were actually used during the year and actual overhead was $420,000, what would be the total overhead applied and the over-applied overhead for the year?
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