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Cash receipts versus revenues. During the month of April, Riley Co. had cash receipts from customers of $680,000. Expenses totaled $624,000, and accrual basis net income was $168,000. There were no gains or losses during the month.Required:
a. Calculate the revenues for Riley Co. for April.
b. Explain why cash receipts from customers can be different from revenues.
How many additional shares of common stock could Carnival Corporation sell? How are the shares that have not yet been issued included in the company's balance sheet? Do they represent an asset of the company?
darter company manufactures two products product f and product g. the company expects to produce and sell 1600 units of
What is the economic and tax policy rationale regarding corporate formation? When will a transfer be deemed a taxable event? How is basis determined? What if assets are contributed to a corporation by a non shareholder such as a government entity?
The city adopted a pension plan for its employees. Based on GASB accounting standards, the city actuary calculated the annual required contribution (ARC) for 2013 to be $ 18,000. However, the city made no appropriation for that purpose.
The 2011 audit of the accounting records of the Lane Company discloses the following information:
the cafeteria at x company has incurred the following costs and number of meals served from january through
compound v11v is used to make hickenbottom corporations major product. the standard cost of v11v is 20.70 per ounce and
morse company manufactures basketballs. materials are added at the beginning of the production process and conversion
empire machinery acquired a new machine on january 1 2006 at a cost of 50000 which was estimated to have a useful life
Discussing the following ethical dilemma.
Discuss this week's objectives and the following concepts comparing the GAAP to the IFRS. How do they relate to the practice of accounting and its uses in business?
Provide an executive summary which will include overview of subject matter, methods of analysis, findings and recommendations - Compare the with the previous year and compute the percentage increase or decrease and comment on the comparative financi..
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