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GASB views pension benefits as a form of compensation promised by governments to their employees in exchange for work performed. According to GASB, the government is primarily responsible for the remaining unfunded portion of the obligation. The unfunded portion of the pension should be reported as a net pension liability in the financial statements of the government.
Evaluate the GASB's views regarding how the total pension liability should be measured and whether or not you support these views? Explain your rationale.
Explain why state and local pension experts oppose GASB's proposed treatment and evaluate the validity of these arguments. Explain.
I need to determine the best form of business entity for a business having the following characteristics and explain why choose that form of business:
Analyze the strengths and weaknesses of the Form 10-K information and disclosures in terms of whether they provide relevant and reliable information to investors.
If the effective interest method is used, by how much should the bond discount be reduced for the 6 months ended December 31, 2009?
Compute the amount of income from the partnership which Potter should report for his tax year ended December 31, 2012.
Battle Tank, Inc. had net sales in 2004 of $1,200,000. At December 31, 2004, before adjusting entries, the balances in selected accounts were: Accounts Receivable $250,000 debit, and Allowance for Doubtful Accounts $2,100 credit.
Include tests of transactions after the balance sheet date as well as tests of transactions during the year under audit. Show
Paulsen Company sells 100,000 units for $15 a unit. Fixed costs are $350,000 and net income is $250,000. What should be reported as variable expenses in the CVP income statement?
Julia currently is considering the purchase of some land to be held as an investment. She and the seller have agreed on a contract under which Julia would pay $1,000 per month for 60 months, or $60,000 total.
Nashville Corporation allocates administrative costs on the basis of staff hours. Short-run monthly usage and long-run monthly usage of staff hours for Operating Departments 1 and 2 follow:
Assuming the computer has a ten-year life and will have no salvage value at the expiration of the lease, what was the original cost (present value) of the computer to Stark?
Jason Company determined that the budgeted cost of producing a product is $1.20 per unit. On June 1, there were 11,000 units on hand.
Fulfil all required journal entries for each of the long-term activities, which took place during 20x7. Keep in mind to account for the appropriate depreciation expense for the year on any of the long-term assets.
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