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Is it important for an accountant to be competent in performing the audit of the client’s record? What does this mean?
What is the appropriate balance for the Allowance for Doubtful Accounts at year-end and show how accounts receivable would be presented on the balance sheet.
How does the use of estimates affect the financial statements of a company and in your opinion, does the use of estimates create opportunities for companies' to manipulate financial reporting?
a company assigns overhead cost to completed jobs on the basis of 112 percent of direct labor cost. the job cost sheet
Logan Corporation has 30 employees, 10 in "A-line," and 20 in "B-line.” Logan incurred $180,000 in fringe benefits costs last year. How much in fringe benefit costs should be allocated to "A-line"?
The company is unsure what price to charge in order to maximize profits. The price charged will also affect the demand. If fixed costs are $100,000 and the following chart represents the demand at various prices, what price should be charged in ..
xavier company is going through a chapter bankruptcy. every asset have been liquidated and the company retains only
The balance in the Prepaid Rent account before adjustment at the end of the year is $21,000, which represents three months’ rent paid on December 1. The adjusting entry required on December 31 is to
Allocating joint costs and costs of byproducts allows managers to examine cost and profitability associated with each of the products they produce enabling them to establish goals related to product-mix. Your discussion topic this week focuses on joi..
What effect will reclassifying a long term investment into cash within one year have on the current ratio? Is a firm's true financial position stronger as a result of reclassifying investments? What are the ethical ramifications of re-classifying ..
Sound internal control practice dictates that cash disbursements should be made by check, unless the disbursement is very small. Petty cash can be substituted for a checking account to expedite the payment of all disbursements.
The total assets of Dain Co. are $800,000 and its liabilities are equal to one-fourth of its total assets. What is the amount of Dain Co.'s stockholders' equity?
Calculating Revenue Profit & Capital Profit and passing Journal Entry - If Bon Air sells 400 shares of this stock on December 31, 2007, for $60,000 cash, what journal entry is recorded?
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