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On January 1, 2015, a foundation made a pledge to pay $30,000 per year at the end of each of the next five years to the Cancer Research Center, a nonprofit voluntary health and welfare organization as a salary supplement for a well-known researcher. On December 31, 2015, the first payment of $30,000 was received and paid to the researcher.
1. Record the increase in the present value of the receivable in the temporarily restricted net asset class as of December 31.
2. Record the receipt of the first $30,000 on December 31 and the payment to the researcher. Indicate in which asset class (unrestricted, temporarily restricted) each account is recorded.
Select one of the major trade theories and answer the following question: What cultural, physical, economical, financial, and political impediments might prevent the successful application of your selected trade theory?
What financial statements must be presented by a government university that engages in only business-type activities? Is there a GASB or FASB requirement that mandates this type of implementation?
a company manufactures desks with vinyl tops. the standard cost for direct materials for the vinyl used in one desk
What is meant by the term "qualitative characteristics of accounting information"?
How much must Paul pay in estimated taxes to avoid penalty. If Paul paid $1000 per quarter would he have avoided the estimated tax penalty
Time cards are being entered into the accounting system for four employees. The costs for Employee 1 are to be billed to job cost code 302.01.01100L.
Evaluate the challenges for u.s. public companies to fully adopt ifrs and propose solutions to these challenges. Provide support for your recommendations.
Prepare the journal entries to record these transactions on the books of Bogner Company using a perpetual inventory system.
Salvo Delivery Service had the following selected transactions during February: Received cash from issuance of capital stock, $35,000.
From the previous discussion, recommend one approach that an accountant could take in order to measure the types of complexity you identified for a specific business or industry.
How much unrealized net gain from the equipment transfer remains at the beginning of 2015? (this is the amount you will need for the *TA entry at 1/15.)
What additional features of a traditional POS system are likely to be beneficial to conducting a professional audit?
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