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1. Based on relevant accounting pronouncements for the sale of real estate, how should Leno, Inc., account for the transaction on March 31, 2013?
2. What additional types of evidence should the auditor examine prior to recognizing any gain on the transaction?
Prepare a memo to the audit partner on the ‘state of the company's industry' and associated risk factors - Perform overall analytical procedures to identify significant changes in the financial positions or results of the business which require det..
What repayment will you receive under each of the two outcomes? What is the expected value of these repayments? Now assume that Kinkus has issued $15 million of new debt to another party, which is also due at the same time that owed to you. Kinkus ..
Preparing memo on state of the company industry
Why do you think it will be an interesting focus for your economic analysis? What is the price of the stock? How many shares can you purchase with your $1000? To keep things simple, assume the brokerage fee is waived. This is just a virtual exercis..
Audit report search: Many companies publish their annual reports on their website, usually in an "Investor Relations" section.
To identify principal audit risk and corresponding audit procedures
During the audit of a regulated company you find that in three instances there were events that occurred that required the company to notify the regulatory agency of their occurrence.
The president has promised an intensive ''audit'' of all aspects of the department's performance. The university has never explicitly established formal goals for the athletic department.
Explain how bond discounts and premiums usually arise. Describe how they are accounted for in the balance sheet and income statement.
Calculate full unit cost for products X and Y under the traditional costing system and calculate full unit cost for products X and Y under the new activity-based costing (ABC) system.
the city of jamestown has agreed to get a new city maintenance building under a capital lease agreement. at the
Prepare the necessary journal entries for Evergreen for each of the above dates. For transactions involving the sale of merchandise, ignore the entry for the cost of goods sold (round all calculations to the nearest dollar).
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