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The group of key personnel has an important impact on an organization. Some companies carry director and officers liability insurance. Are these policies expensive? Why are they necessary?
Creat a journal entry to record income taxes for the year 2010. Show well-labeled computations for the amount of income tax payable and the change in the deferred tax account.
Target Corporation in 2007 reported net income of $2.9 billion, net sales of $61.5 billion, and average total assets of $41.0 billion. What is Target’s asset turnover ratio? What is Target’s rate of return on assets?
Recognition of contingent liability in financial statement - How would you report this contingent liability on the financial statements of your company? Justify your answer. There may be more than one acceptable accounting treatment. Pick one and e..
A review of Parrish Corporation's accounting records found that at a volume of 90,000 units, the variable and fixed cost per unit amounted to $8 and $4, respectively. On the basis of this information, illustrate what amount of total cost would Par..
State where the balance of Deferred Gross Profit would be reported on the financial statements for 2011. Calculate the amount of realized gross profit to be recognized on the income statement, prepared using the cost-recovery method.
Colbert operates a catering service on the accrual method. When must Colbert recognize the income if his accounting methods are selected to minimize income recognition?
How much does the firm currently earn per share and What proportion of the firm does Warren currently own and What proportion of the firm will Warren own after the stock dividend?
What was the average selling price of each share of common stock and How many shares of stock are outstanding, What amount should be reported for stockholders' equity
Sunshine bought furniture for 90,000 several years ago and had claimed $25,000 of depreciation expense on the machine. Illustrate what is the amount and character of Sunshine's gain or loss?
The directors are wondering why we complicate a very simple way of calculating long service leave – why not “stick with” recognising the expense when we pay for it? What do you think we should do?
Evaluate the price of the bonds at January 1, 2013. Organize the journal entry to record their issuance by The Bradford Company on 1 st January, 2013.
What action could San Fernando take on its export pricing? What probable U.S. government action may result from your decision in 1?
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