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You are an accountant in a medium-sized manufacturing company. You have been asked to mentor an accounting clerk who is new to your accounting department. * Explain why adjusting entries are necessary.
* Describe the 4 types of adjusting entries, and provide a manufacturing industry example of each.
* Describe how these entries would be recorded in a computerized accounting system.
* Describe 1 ethical issue that could result from the preparation of these manufacturing entries.
Send letters directly to third parties who hold the client's inventory and request they respond directly to us. which type of audit evidence and balance related audit objective is?
Assume Holmes pays interest semiannually and the July 1 entry was done correctly. The journal entry at December 31, 2012 would include a credit to what?
Catbird accounts for its investment in Bug using the equity method as a one-line consolidation. Complete the working papers to consolidate financial statements of Catbird and Bug Corporations for the year 2006.
Definition of Risk and Security and identification their role in finance.
Which ratios would external users be most interested in? Why? Which ratios would best help internal users manage the business? Why? Beyond the basic financial statements what other information would you want to fully analyze a company's performa..
Olmsted Company has the following items: common stock, $900,000; treasury stock, $105,000; deferred taxes, $125,000 and retained earnings, $454,000. Illustrate what total amount should Olmsted Company report as stockholders' equity?
If a business had sales of $4,000,000, fixed costs of $1,300,000, a margin of safety of 25%, and a contribution margin ratio of 40%, what was the break-even point?
The required volume of output to produce the parts will not require any incremental fixed overhead. Incremental variable overhead cost is $2.00 per unit. Should Kimball make or buy the parts?
Purpose a cash flow statement for Oju Company for 20B using the indirect method. Be sure to prepare a schedule for any noncash items for disclosure.
Evaluate the percentage change in sales and net cash flow
When did you earn your revenue for both parties? What caused you to earn the revenue? Did you earn the revenue at the moment you received cash?
What risk calculation technique is illustrated by your example? Would you have employed a different risk assessment technique than used in your example, and why?
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