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Read the following fact pattern. Provide an answer within two paragraphs or more discussing your ruling as Judge in the case.
Bob's neighbor Dave is good friends with Bob and cares for Bob who is old, sick and dying. Dave takes Bob to the grocery store, to the barber, run errands for Bob, and pays all his bills since Bob is bed ridden and has a difficult time getting around. Dave maintains that Bob had promised him his two gold rings worth ten thousand dollars each upon his death. However, when Bob eventually died, his son took his rings as part of Bob's estate. Dave claims the rings were promised to him and asks you as Judge to rule on his claim. How do you rule?
Which of the following is true about accounts payable?
How does the write-off of a nun collectible account receivable and the recovery of a previously written-off account receivable effect net income?
What is the key difference between absorption and variable costing? Assuming identical companies (one using absorption costing and the other using variable costing) in their first year of operation, each having the same ending inventory balance, w..
Chris Spear invested $11,734 today in a fund that earns 8% compounded annually. To what amount will the investment grow in 3 years? To what amount would the investment grow in 3 years if the fund earns 8% annual interest compounded semiannually?
Nagen Company had these transactions pertaining to stock investments:
Cumulative earnings for year prior to current week, $95,817; social security tax rate, 6.0% on maximum of $102,977; and Medicare tax rate, 1.5% on all earnings. What is the gross pay for the employee?
Her other projections include an initial inventory of $15,000, assembly training for $2,500, cost of goods sold (COGS) approximately $35,000, selling expenses of $9,000 and general and administrative expenses of $7,000. She expects to pay 25% of h..
what is the basic difference between the statement of cash flows vs. all the other financial statement that you have learned to prepare?
which one of the following accounts would not appear on the consolidated financial statements at the end of the first fiscal period of the combination?
Analyze the above information and prepare an income statement for the year 2012, starting with income from continuing operations before income tax. Compute earnings per share as it should be shown on the face of the income statement.
Sanderson sells a single product for $45 that has a variable cost of $35. Fixed costs amount to $5 per unit when anticipated sales targets are met. the company sells one unit in excess of its break-even volume, profit will be:
Phyllis believes that the firm should use straight-line depreciation for a capital project because it results in higher net income during the early years of the project's life.
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