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Beeson Co. is experiencing a decrease in sales and operating income for the fiscal year ending December 31st. Julia Faure, controller of Beeson Co., has suggested that all orders received before the end of the fiscal year be shipped by midnight, December 31st even if shipping department must work overtime. Since Beeson Co. ships all merchandise FOB shipping point, it would record all such shipments as sales for the year ending December 31st, thereby offsetting some of the decreases in sales and operating income.
Problem 1: Discuss whether Julia Faure is behaving in a professional manner and what are the implications of her actions?
Bradley Corporation issued 10,000 shares of common stock on January 1, 2013. The stock has par value of $0.01 per share and was sold at $25 per share. The journal entry for this transaction would: Which of the following statements is TRUE about a bon..
The firm's weighted aver-age cost of capital is 10 percent and its pretax cost of debt is 6 percent. What is the company unlevered cost of equity capital
Why does an intra-entity sale of a depreciable asset (such as equipment or a building) require subsequent adjustments to depreciation expense within the consolidation process?
computation of depreciation under various methods.jon seceda furnace corp. purchased machinery for 315000 on may 1
Dolphin Company leased an office under a six-year contract, which has been accounted for as an operating lease. Faced with the downturn in the economy, the viable company decided to sub-lease the office. The risk-free rate on government bonds is 5%...
Calculate net income (or loss) using the accounting equation. At the beginning of the current fiscal year, the balance sheet for Davis Co. showed liabilities of $640,000.
How much was the gain or loss experienced by Briar in reacquiring its 5% bonds? Provide the journal entries to retire the bond on July 1st, 2017
The useful life of the equipment is 5 years. What would be the book value of the equipment net of depreciation at the end of the fourth year?
What replacement cost is equivalent to an annual maintenance cost of $4000 over a period of thirty years? (Use a 6% interest rate compounded annually). ?
What was the net increase or decrease in cash flow from having purchased the foreign currency option to hedge this exposure to foreign exchange risk?
Compute the dollar amount of change and the percentage change in inventories between 2010 and 2011. - Compute inventory as a percentage of current assets for 2011.
Internal auditors are employees of the organization, however, internal auditing standards them to maintain independence.
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