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Course project notes to the financial statement - develop notes to the financial statements. Develop a Course Project having to do with writing notes for a fictitious annual report. You are not to use actual notes, or the notes from any other company, because this would be considered plagiarism (and if discovered, would result in a grade of "F," or zero points for the assignment).Your project should consist of, the items below.
Note 1: Significant Accounting Polices (consisting of at least 10 items) Notes 2-10+: Consisting of at least the items below.Inventory Property, Plant, & Equipment Contingencies and Liabilities Changes in Accounting Principles or Estimates Post Balance Sheet Events Mergers and Acquisitions Lease Obligations EPS Long-Term Debt Employee Pension Obligations.
GuidelinesThe notes will include as "Summary of Significant Accounting Principles" as Note 1. The notes will then include detailed information about the 10 different items that are usually contained in the notes to the financial statements.
The Chandler Corporation began business on January 2, 2007. It is now time for Chandler to prepare its financial statements for 2007. The bookkeeper at Chandler was able to complete the asset section of the balance sheet, but he needs your help to..
Arnie, a college student, purchased a truck in 2010 for $6,000. He used the truck 70% of the time as a distributor for the local newspaper and 30% of the time for personal use. The truck has a five year recovery period and he claimed depreciation ..
The bookkeeper for Wooster Company asks you to prepare the following accrued adjusting entries at December 31. Interest on notes payable of $400 is accrued.
The following control procedures are used at Sandwich Company for over-the-counter cash receipts. For each procedure, explain the weakness in internal control, and identify the control principle that is violated.
Create a cost-benefit analysis to evaluate the project
The revenue principle states that revenue shall be recognized at a point when
In May of 2011, Raymond Financial Services became involved in a penalty dispute with the EPA. At December 31, 2011, the environmental attorney for Raymond indicated that an unfavorable outcome to the dispute was probable.
In the current year, Orion Corporation (E & P of $2 million) distributes all of its property in complete liquidation. Allie, a shareholder, receives land having a market value of $300,000.
For the most recent year, Wilson Enterprises had sales of $689,000, cost of goods sold of $470,300, depreciation expense of $61,200, and additions to retained earnings of $48,560.
Creating a perception of detection can act as a deterrent to fraud. What are some ways companies attempt to create such a perception?
Yuli Copters is known to be aggressive in ignoring intellectual property claims. Imagine they just go ahead with the project as stated above. (In other words, they decide not to pay for the license.)
Slagle Corporation is a large manufacturing organization. Over the past several years, it has obtained an important component used in its production process exclusively from Harrison, Inc., a relatively small company in Topeka, Kansas. Harrison ch..
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