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· Explain the advantages of the four different special journals? When would you use each type?
· What is a subsidiary ledger and what purpose does it serve?
· What is a control account and what purpose does it serve?
· Which two general ledger accounts may act as control accounts for a subsidiary ledger?
· What are the advantages of using subsidiary ledgers?
Explain why the IASB has proposed the changes, including a discussion of the advantages and disadvantages of fair value measurement.
Tidbit Inc. has a sales budget for next month of $800,000. Cost of goods sold is expected to be 25 percent of sales. All goods are purchased in the month used and paid for in the month following purchase.
Catalina works for a regional sales branch of a large pharmaceutical company. Individual employees as well as individual goals, he or she receives a large bonus check at the end of the year.
You will be asked to address a accounting failure from AMERICAN INSURANCE GROUP. Overview of the situation/accounting issue
As an auditor for Franken's Markets, you have discovered fraudulent activities. In your previous discussions with management, no one with the Franken organization identified fraudulent behavior or activity, and any questions relating to such m..
please respond to the following analyze the risks to merchandising that a business may experience and how they might be
Ridge Point Company's budgeted sales were 22,500 units at $76 per unit. Actual sales were 21,750 units at $79 per unit. What was Oaks Edge sales price variance?
There is no provision for the renewal of the lease or purchase of the machine by the lessee at the expiration of the lease term. Hooke paid n$ 30000 of commissions associated with negotiating the lease in Feb 2011
The corp declared a stock dividend which gave stockholders two new shares of common stock for each share owned. After the distributions of the shares to the shareholder, how many share are owned by David and what is the adjusted basis of each shar..
Calculate the IRR and NPV of this project utilizing a 12% discount rate and a 15% cap rate. Ms. Brown was able to secure a loan for $1,540,000, and an equity investor agreed to invest the remaining $660,000 in exchange for 20% ownership in the pro..
How will Wren Corporation be taxed on the distribution? How will Adam be taxed on his receipt of the cash and notes?
Is it possible to deviate from Generally Accepted Accounting Principles (GAAP) and the accounting cycle and still prepare financial statements? What are some possible consequences of this course of action?
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