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What ratio of debt to equity does the IRS use as a rule of thumb to determine whether or not there is too much debt to equity in the corporate structure?
Round-robin brainstorming can be a good technique. Let's say that we were going to incorporate this technique for a brainstorming session for a new client. You're in charge of creating the agenda and contacting the people who will attend the meeti..
Which of the following requires recognition in the auditor's report as to consistency?
Prepare the journal entry to record the issuance of the bonds and the related bond issue costs incurred on January 1, 2009.
The board of directors declared and paid a $3,000 dividend in 2009. In 2010, $12,000 of dividends are declared and paid. What are the dividends received by the common stockholders in 2010?
In its year 2 financial statements, Gregory's on Ormond would recognize compensation expense relative to the options of how much?
What is the danger in allocating common fixed costs among product lines or other segments of an organization?
Record the following transactions of a company in a general journal form: Reacquired 8,000 of its own $10 par value common stock at $40 cash per share. The stock was originally issued at $15 per share.
Equivalent units for materials total 20,000. There were 16,000 units completed and transferred out. Equivalent units for conversion costs equals 18,000. How much are the physical units for conversion costs if ending work in process is 50% complete..
How would applying a flat tax decrease errors, when the progressive tax rates is just a simple formula? How would you measure gross income? Do you think that deductions should be eliminated? Which ones and why?
One of the most important problems in dealing with inventory is the amount at which the inventory should be carried on the books. What are the items that should be included as inventory? Remember to consider purchase returns, purchase discounts, a..
CPA Smith completed an accounting engagement for the ACME Company on December 20, 20X1, and sent ACME a bill for $5,000 which ACME paid on January 25, 20X2. CPA Smith uses the cash basis of accounting
Bubble Corporation manufactures two products, I and II, from a joint process. A single production costs $4,000 and results in 100 units of I and 400 units of II. To be ready for sale, both products must be processed further, incurring separable co..
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