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On January 1, 2007, Didde Co. leased a building to Ellis Corp. for a ten-year term at an annual rental of $80,000. At inception of the lease, Didde received $320,000 covering the first two years' rent of $160,000 and a security deposit of $160,000. This deposit will not be returned to Ellis upon expiration of the lease but will be applied to payment of rent for the last two years of the lease. What portion of the $320,000 should be shown as a current and long-term liability, respectively, in Didde's December 31, 2007 balance sheet? Current Liability: $0; Long-term Liability: $320,000 Current Liability: $80,000; Long-term Liability: $160,000 Current Liability: $160,000; Long-term Liability: $160,000 Current Liability: $160,000; Long-term Liability: $80,000
Analyse the physical internal control weaknesses in the system. Model your response according to the six categories of physical control activities specified in the COSO internal control model.
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Consolidation worksheet for Ogre Ltd and its controlled entity for the period ended 30 June 2012-12 and the consolidated statement of financial position of Ogre Ltd and its controlled entity as at 30 June 2012.
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Evaluate the cost of the ending inventory of three methods
Through the year, Designs, Inc. made estimated tax payments of $1,500 each quarter to the IRS.
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