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An enterprise that holds a variable interest in variable interest entity is required to consolidate assets, liabilities, revenues and expenses, and the non-controlling interest of that entity if:
a. VIE has no voting stock
b. variable interest held by enterprise involves a lease
c. enterprise has controlling financial interesting VIE
d. other equity interests in VIE have obligation to absorb the expected losses of the VIE
Amounts paid on June 30 for a 1-year insurance policy, Professional fees earned but not billed as of June 30
Demostrate the entry in the Investment Trust Fund to summarize the collection of interest for six-month period.
Discuss main objectives of non- profit-making organisations
Provide a brief definition of compilation and review performed in accordance with the SSARS. Include the type of assurance provided.
CAPM and Venture Capital
Discuss in detail the requirements of incorporating the business, the advantages and disadvantages, and provide JJ with recommendations.
What is Justin’s adjusted tax basis for his partnership interest immediately after partnership is formed? What is the partnership’s adjusted basis for property contributed by Justin?
How much overhead is allocated? What is the over/under absorbed overhead?
Write down a memo to Stacey describing the tax consequences of incorporation. As part of your memo analyze the possibility of having the corporation issue common and preferred stock and debt for shareholders’ property and money.
A business paid 100 to cash to Karen Smith (the owner of the business) for her personal use. Set up the necessary T accounts and show how this transaction would be recorded directly to those accounts
Provide the fund level entries in general journal form needed to conform to basically accepted accounting principles. If no entry is needed, so indicate.
From this information, compute the equivalent units of production for direct materials and conversion costs for the month. Use the FIFO costing method.
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