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You are the newly hired accountant for The Gift Shop. The owner has just received the December 31, 2008 bank statement and has asked you to prepare the monthly bank reconciliation.
Additional information needed for bank reconciliation preparation follows:
Check #125 was recorded for $585 but cleared the bank as $600.
Identify items of cash (and cash equivalents), understand the importance of cash management, and discuss revenue recognition when the right of return exists.
Prepare all journal entries for 2001. Prepare a partial balance sheet showing the presentation of the bonds and the interest payable at December 31, 2001
Can you obtain a copy of the full text of FASAB statements from this Web site? If not, explain how would you obtain a copy of a statement pertinent to federal agencies? What is the cost to purchase a statement?
Assuming that Coaster uses the installment method of accounting for its installment sales, illustrate what amount of realized gross profit will Coastwe report in its income statement for the year ended December 31, 2012?
Analyze and describe how you think big banks are or are not ripping off pension funds. Support your response with examples and evidence.
Analyze reporting requirements for private sector, not-for-profit organizations under Financial Accounting Standard Board guidance. Compare and contrast accounting practices between the two different assignments.
Find the probable role of the monthly report and What is the controller's responsibility with respect to a president who doesn't know much accounting?
The founders of Samanta Shoes utilize variable costing in their business decisions. If Samanta Shoes utilizing absorption costing, would you see the company's income to be more than, less than or about the similar as its income measured under vari..
Prepare a segmented income statement in the contribution margin format for the company.Omit percentages; show only dollar amounts. Why should management discontinue a segment? Which one?
Inc report revenues of $14,892,615, net operating profit after tax of $987,625, net operating assets of $6,124,587. The fiscal 2009 balance sheet reports net operating assets of $5,995,633. Illustrate what is Neptune’s 2010 net operating profit m..
Write a 700- to 1,050-word paper explaining economic issues that bring concern to pricing your services and products. What ethical challenges will you face in hiring non-CPAs? Illustrate what standards apply?
Evaluate the total cash flows for the first year of the project, Years 2-9, and for the last year of the project. Use the minus sign to show cash outflows.
Calculate the amount of interest capitalized for the year. (Round the Weighted-average rate to two decimal places (e.g. 12.34%) for calculation purposes. Round your final answer to the nearest dollar amount. Enter your answer in dollars not in mi..
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