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1. Melanie is the head of two different departments in the same company. The Toy's department is doing very well, but the Hobby's department is not. Melanie would like you, the staff accountant, to charge the advertising expense for the Hobby department to Toy's. With only these facts, would you change the accounting for the two departments?
Describe the two major obligations incurred by a company when bonds are issued. Magda and Helga are discussing how the market price of a bond is determined.
Apply your knowledge of variable costing and review a sample budget for a charter school (attached). This budget is prepared assuming three levels of student enrollment (66, 100 and 120). Revenue and expenses projections are shown in the budget.
Which of the following should not be used as the allocation base in a company that appropriately uses a single plant wide rate?
Richman Company for $30,000,000. The following details pertain to the contract: Percentage of completion Estimated total cost of contract Gross profit recognized to date At December 31, 2007 25% $22,500,000 1,875,000 At December 31, 2008 60% $25,0..
The money is mislaid property and it should be awarded to the owner of the hotel. In looking at the explanations of both mislaid and lost property, the difference between the two terms is how the item was left.
Rose Corporation uses the installment method and has the following information for Year 1 of its operations:
Selvey inc is a completely owned subsidiary of parsfield incorporated a us firm. The country where selvey operates is deemed to have a highly inflationary economy under FASB statement no. 52. Therefore,the functional currency is :
Kristen's AGI is $120,000 before considering effect of rental activity. What is Kristen's AGI after considering the tax effect of rental use of her home?
Ontario still had $60,000 of the goods in its inventory at the end of the year. The amount of unrealized intercompany profit which should be eliminated in the consolidation process at the end of 2006 is:
at december 31 2007 angie brandt corp. has assets of 10000000 liabilities of 6000000 common stock of 2000000
Briefly discuss the economic, political, educational, family, and marital systems of a country of your choice. When doing business in the chosen country, what kind of social hierarchies and social interactions should you be aware of?
Identify three major accounting issues on which IFRS and US GAAP currently differ. For each, outline briefly the nature of the divergence, and discuss the potential impact if the IFRS position is adopted in the US.
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