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Governments are not required to accrue interest on long-term debt in governmental funds even if the interest is applicable to a current period and will be due the first day of the following year. Explain and justify the standards that permit this practice.
The average remaining service period for the employees expected to receive benefits is 10 years. What is amount of amortization to pension expense for the year?
Net operating income is defined as:
accounting for depreciation on plant asset and its journal entry.on april 1 2007 sas corp. purchased and placed in
The ledger of Duggan Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared.
Make the journal entry necessary on Plitt's books to record the factoring of the accounts.
question in summer 2005 timewarner inc. announced they were setting aside 3 billion to settle lawsuits from
Assume that Jong used the equity method of accounting for its investment in Nye instead of the cost method. Calculate the balance of its "Investment in Nye" account.
During October, Dorinirl Corporation incurred $71,300 of direct labor costs and $5,900 of indirect labor costs. The journal entry to record the accrual of these wages would include a:
The building was originally bought seven years ago for $62000 and has taken $15000 in depreciation, what is the realized gain
The following facts pertain to a non cancelable lease agreement between L Leasing Company and G Company, a lessee. Discuss the nature of this lease to G Company. Discuss the nature of this lease to L Company. Prepare the journal entries on the lessee..
Compute Campbell's asset turnover ratio, compute Campbell's profit margin on sales - Everly estimates that 4,000 tons of coal can be extracted. If 700 tons are extracted the first year, prepare the journal entry to record depletion.
The trainer has covered the difference between manual accounting and computerized accounting. What questions do you have regarding the differences? Illustrate what are the advantages of computerized accounting versus manual accounting?
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