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Refer to Polaris financial statements in Appendix A to answer the following.
1. Are Polaris financial statements consolidated? How can you tell?
2. What is Polaris comprehensive income for the year ended December 31, 2011?
3. Does Polaris have any foreign operations? How can you tell?
4. Compute Polaris return on total assets for the year ended December 31, 2011.
Equipment costing $10,000 with accumulated depreciation of $7500 is traded for equipment priced at 17,000, minus a trade in allowance of 2,000. What is the new equipment recorded at?
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Write a 700- to 1,050-word paper in which you discuss the roles of law and courts in today's business environment.
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There are four important purposes of analytical procedures. Identify one of these four purposes and give a specific example of an analytical procedure that an auditor might perform.
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