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1.) Briefly explain the purpose of the disclosure note on significant accounting policies. Provide two examples of what might be found in this note.
2.) Briefly explain what is meant by a subsequent event. Give two examples of subsequent events.
kentucky motors has manufactured compressor parts at its plant in pitcairn indiana for the past 18 years. an outside
On December 31, 2012, the accountant had estimated the total tax for 2012 to be $123,600 and had recorded a liability of $3,600 for federal income tax payable.
Mark Hancock is a self employed attorney who operates his law practice as an unincorporated sole proprietorship. In 2010, the IRS disallowed several business deductions he took in 2007 and 2008. In addition to paying the deficiency and assessed pe..
Tan Company acquires a new machine (ten-year property) on January 15, 2011, at a cost of $200,000. Tan also acquires another new machine (seven-year property) on November 5, 2011, at a cost of $40,000.
If an officer is not actually paid his salary but the salary is shown as accrued for 2010, for a C Corp, is the total accrued amount for that officer included on Schedule E or only what the officer is actually paid in 2010?
What is the recorded net value of this machine on December 31, 2009 and 2011 using US GAAP?
Explain why a firm like Grate Care might decide to use both residual income and return on investment as measures of performance.
Assume Research In Motion invested $834 million to expand its manufacturing capacity. Assume that these assets have a seven-year life, and that Research In Motion requires a 12% internal rate of return on these assets.
Why are we here? What is my purpose to be here? Am I supposed to be doing something great with my life? For thousands of years, men and women have pondered these and similar questions.
The company wants to maintain a target capital structure that is 35% debt and 65% equity. The company forecasts that its net income this year will be $1,800,000. If the company follows a residual dividend policy, what will be its total dividend pa..
The contribution margin for product A is $5 and for product B it is $4. What is the most profitable sales mix for the Foam Pet Mattress Company?
what is meant by the net realizable value for accounts receivable?what is aging of accounts receivable and how is it
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