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Discuss in general the ethical issues when employees are tempted to defraud their employer or when companies defraud the public.
In addition, Dan reported $5,000 in long-term capital gains from the sale of a stock and $3,000 of income from another real estate partnership. What is Dan's tax basis in XYZ, LP?
Why are revenue recognition methods so subjective and what are the implications to the quality of the income statement?
The actual supplies cost for the month was $9,500. The supplies cost in the flexible budget for January would be closest to:
The company has a December 31 year-end. Prepare the adjusting entry at March 31, 2011, to record subscription revenue earned in the first quarter of 2011.
Journalize the entry to record the payroll for the week of December 10. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0".
What is an example of a significant accounting estimate? What is the importance of these estimates? How do ethics play into the decision-making process? Which financial statements include significant accounting estimates? Why?
There are situations wherein a company faces a potential liability, but is not certain of all of the details associated with such potential liabilities.
On June 1 capian company borrows $90,000 from first bank on a 6 month $90,000, 12% note. Prepare the entry for june 1; prepare the adjusting entry for june 30; prepare the entry at maturity (december1), assuming monthly adjustment entries have bee..
On December 31, of the current year, a company's unadjusted trial balance revealed the following: Accounts receivable of $185,600; Sales Revenue of $1,280,000; (75% were on credit), and Allowance for Doubtful Accounts of $1,600 (credit balance). P..
The part of the variable overhead budget variance due to the difference between actual hours required and standard hours allowed for work done is called the:
The Federal Circuit Court has ruled that wholesale distribution and retail sales, even of the same product, constitutes distinct businesses. In a case involving a taxpayer from another circuit, the Tax Court has ruled that such costs invariably sh..
What are several conditions that can lead to fraud and to what type of fraud can they lead? Describe the source documents and controls that would be included in a typical production cycle.
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