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During 2002, Enron corporation hid large liabilities from its balance sheet. World com admitted to recording expenses asassets. Both companies tried to improve their financial appearance by window dressing their financial statements. Is this an ethical issue? If yes, what is the ethical issue?
Use the accounting equation to show how Enron abused good accounting. Use a separate accounting equation to demonstrate WorldCom's error.
The department actually completed 5000 hours of production. Determine the budget for the department assuming that it uses flexible budgetting.
Carol continued to serve as president of Teal Corporation after the redemption. As a result of this transaction, which of the following is correct?
The following errors took place in journalizing and posting transactions: a. A withdrawal of $20,000 by Joel Goodson, owner of the business, was recorded as a debit to Wages Expense and a credit to Cash.
Prepare a proper schedule of consolidated net income and apportionment to non controlling and congtrolling interests for 2010.
What are cheverolets 4 main financial statements? Can you show them on a flow chart? What are the expenses and revenues in the Chevy business?
eWare Corp started operations Jan 1, 2009. Using the information from December 31, 2009 prepare income statement, retained earnings statement, balance sheet and statement of cash flows:
The local garden club, an exempt organization, had gross unrelated business income during the year of $15,000. Its costs associated with this income were $9,800. What is its unrelated business income tax?
Wilton Company reported net income of $50,000 for the year. During the year, accounts receivable decreased by $7,000, accounts payable increased by $3,000 and depreciation expense of $5,000 was recorded. Net cash provided by operating activities f..
How much amortization expense will be on the consolidated financial statements for the year ended December 31, 2009 related to the acquisition of Green?
Gordon paid the $10000 balance of his federal income tax three months late. Ignore daily compounding of interest. Determine the interest rate that applies relative to this amount.
The following cost card was found in the Inventory ledger for part AAA. Direct Materials $600, 20 hours of Direct Labor at $20 per hour $400, manufacturing overhead is applied at $15 per direct labor hour, one third of the overhead is fixed the re..
Fund accounting is very different from commercial accounting, but has a lot of similarities as well. Discuss the similarities and differences between these two types of GAAP accounting methods.
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