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Your friend from CSU who works for a large company, in a culturally diverse overseas location has contacted you. She confides in you about a problem with her boss, who is asking customers to sign sales agreements just before the end of the year, indicating that a sale has been made. Her boss then tells these customers that they will have 30 days to change their minds with no penalty. Thirty days is well into the next financial year. If the customers don't change their minds, then the merchandise is delivered to them, otherwise if they cancel the orders then the invoice is cancelled. Her boss gives the sales agreements to the accounting department, which prepares an invoice and records the sales. One of the people in the accounting department keeps the invoice and delivery documents in a desk until either the customer changes their mind, in which case the sale is cancelled or the merchandise is sent at the end of the 30 day waiting period.Required:Referring to the Code of Ethics for Professional Accountants, what advice would you give your friend? (Maximum of 600 words)
Harnish Corporation is developing standards for its products. One product requires an input that is purchased for $55.00 per kilogram from the supplier. By paying cash, the company gets a discount of 8% off this purchase price.
1. prepare a statement of cash flows for the current year using the indirect method.2. using horizontal analysis
Indicate whether the lease would be classified as operating or capital under FASB Statement No. 13. Assume each scenario is independent and that Waldrop has not met any of the other requirements for capitalizing leases.
Complete the payroll schedule on the accompanying blank worksheet and prepare journal entries for SFCC's payroll and the related payroll expenses.
state and defend legal and ethical internet issues and academic integrity. ltbrgtdiscuss at least 2 specific examples
timothy and alice who are married with modified agi of 90000 are sending their daughter to her first year of college.
your friend sally has hired you to evaluate the following internal control procedures.a explain to your friend whether
norman companys income statement for the year ended december 31 2012 contained the following condensed
Vernon Co. is being sued for illness caused to local residents as a result of negligence on the company's part in permitting the local residents to be exposed to highly toxic chemicals from its plant. Vernon's lawyer states that it is probable tha..
topaz company makes one product and has set the following standards for materials and labordirect materialsdirect
Roland had a taxable estate of $5.5 million when he died this year. (Reference the tax rate schedule in Exhibit 25-1 and the Unified Credit schedule in Exhibit 25-5 to answer this problem. Omit the "tiny_mce_markerquot; sign in your response).
a equipment was purchased for 800000 on january 1 2014. it has an estimated useful life of 8 years and a residual value
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