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As a CPA, explain to your client the significance of the income and principal categorization scheme used for fiduciary accounting purposes. Also, use this thread to discuss the current events on the Bush Tax Cut expiration, the alternatives and impact on the taxpayer.
Compute the gross profit margin,operating profit margin, and net profit margin for all companies. Then write a short essay explaining the differences you found between the profit margins calculated and why you think the profit margins differ.
Indicate the amount of income or loss from the partnership that should be reported by Wilson in 2011 on his Individual Income Tax Return. Compute Wilson's basis in his partnership interest at the end of 2011.
Cost of goods sold for the year is $240,000. Evaluate what is the company's average days in inventory?
The liability policy was $63,000 for eighteen-months, and the crop damage policy was $24,000 for a two-year term. What was the balance in Eve's prepaid insurance as of December 31, 2012?
sales $2,555,500, $1,120,000 prepare a consolidated financial statements workpaper for year ended dec. 31, 2013. prepare a schedule to calculate consolidated retained earnings on dec. 31, 2013. use an analytical or t-account.
A couple who file a joint return has $125,000 of AGI before considering a $40,000 loss from rental real estate activities in which they actively participate. Illustrate what amount of loss must they carryover to the next year if any?
During the current year, Patricia sells activity C for an $18,000 taxable gain. Patricia's salary for the year is $100,000. What is the amount of Patricia's deduction against salary income?
Elucidate the amoutn of revenue if any that should be recognised in the financial statement of ABC's for the year end 31st december 2011???
Aber Company sells merchandise on account for $1,500 to Borth Company with credit terms of 2/10, n/30. Borth Company returns $250 of merchandise that was damaged, along with a check to settle the account within the discount period. Illustrate wha..
The expected return on plan assets and the settlement rate were both 8%. Determine the pension expense to be reported in 2011. Prepare the journal entry to record pension expense and the employers' contribution to the pension plan in 2011.
If a company does not monitor notes payable for due dates and interest payment dates in relation to financial statement dates, what misstatements can appear in the financial statements?
A company that uses the perpetual inventory system purchased $8,500 worth of inventory on September 25. Terms of the purchase were 2/10, n/30. The invoice was paid in full on October 4. Prepare the journal entries to record these merchandise trans..
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