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Describe the purpose of each financial statement. Determine which one (1) is the most effective in communicating the financial health of an organization. Defend your position.
Compare the major functions of an accountant to that of a certified public accountant. Make an argument for and against the importance of accounting and accountants in our society from a U.S. or global perspective.
Imagine that you have decided to create your own business venture. Determine whether the company will be a service or merchandising company. Describe the differences between the charts of accounts for both companies.
Based on the company that you selected in 3, make an argument for automating the accounting process, and implement at least three (3) types of internal controls to prevent or detect theft or fraud.
Mary Kate owns a building that she leases to an individual who operates a grocery store. Rent income is $10,000 and rental expenses are $6,000. On what form 1040 schedule or schedules are the income and expenses reported?
Young corporation issued 2,000 shares of $25 par value common stock and 300 shares of 13% par value preferred stock for cash at par value. How do i record the journal entry?
On December 31, the adjusted trial balance of Garg Employment Agency shows the following selected data. Prepare the closing entries for the temporary accounts at December 31.
Assuming all sales were made on account, compute the ending accounts receivable balance that should appear in the ledger, noting any apparent shortage. Then, draft a memo dated October 3, 2010, to Mark Price, the branch manager, explaining the fac..
On January 1, 2006, Hi and Lois Company purchased 12% bonds, having a maturity value of $300,000, for $322,744.44. The bonds provide the bondholders with a 10% yield. Prepare the journal entry at the date of the bond purchase.
Show the proper balance sheet presentation for the liability for bonds payable on the December 31, 2011, balance sheet.
Using Landry's Restaurants, Inc. 2003 Annual Report located in Appendix A of the text, Fundamentals of Financial Accounting, prepare a 1,050-1,750-word paper in which you answer ALL of the following questions, relative to the company and its annua..
focus on how auditing and ethics are related or how ethical behavior helped impact auditors on their audit engagement.
What is the purpose of internal controls? Be specific.
You are there foreconsidering recording the transactions directly into the general ledger accounts. Is this ethical and will you be following the accounting norms if you undertake such a step? Why or why not? Discuss.
What are some of the difference between the preparation of fund-basis financial statements and the preparation of the government-wide statements. What are some of the differences in requirements? When is each used and who is the audience for each?
A violation of the profession's ethical standards would most likely have occurred when a CPA:
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