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A customer of company ABC seems to be doubtful at balance sheet date.therefore company made the provision for the customer at the rate 5%.after the balance sheet date.customer paid 80% of the total amount.required:identify the type of event.2.what will be the accounting treatement of this event?
A firm lends $10,000 for 5-years with no stated interest rate. The market rate of interest at the time would have been 5%. What is the journal entry that should be made a. at the time the money is loaned and b. at the end of the first year of the ..
The existence of a material weakness led to an adverse opinion in the internal control audit report of a publicly traded company. Which of the following statements is correct if management believes that it has remediated the weakness?
Capital investments are the key to the future of every company. These investments initially cost a company thousands to billions of dollars.
Assume variable manufacturing overhead is allocated using machine-hours. Give three possible reasons for a favorable overhead efficiency variance. Which reason is most persuasive? Why?
Troy (single) purchased a home in Hopkinton, Massachusetts, on April 6, 2005, for $300,000. He sold the home on October 6, 2012, for $320,000.
Madison Industries is a manufacturer of sweaters. The information for March is as follows: Prepare a production cost worksheet using the weighted-average method. Include any necessary supporting schedules.
Chancellor Ltd. sells an asset with a $1 million fair value to Sophie Inc. Sophie agrees to make 6 equal payments, one year apart, commencing on the date of sale. The payments include principal and 6% annual interest. Compute the annual payments.
What are the 6 principles in the AICPA's CPC and the purpose of each principle?
You are analysts comparing the performance of two portfolio managers using the Sharpe Ratio measurement. Manager A shows a return of 16% with a standard deviation of 10%. Manager B shows a return of 11% with a standard deviation of 6%. If the risk..
Net cash flow from operating activities may be reported indirectly by removing the effects of certain items from net income. Which of the following requires an adjustment for this purpose?
Dove Corporation had purchased the land as an investment three years ago for $375,000, and the land was distributed subject to a $270,000 liability. Alexandra took the land subject to the $270,000 liability. What is Alexandra's basis in the land?
Other than WritePointSM, what three resources in the Center for Writing Excellence do you find useful? Describe these resources, and explain how you might use them in future courses. Consider looking at the Service, Writing Resources, and Useful L..
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