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1. what is the difference between the sales journal and the accounts receivable master file? Why are they both important?
2. When is it acceptable to confirm accounts receivable prior to the balance sheet date?
3. Can you distinguish between accuracy of tests of gross accounts receivable and tests of the realizable value of receivables?
Explain disclosure requirements for nonprofit organizations, such as the tax-exempt determination letters required by Congress and the IRS. Discuss the reasons for these disclosure requirements and the sentiments of the public and government abou..
The Stanford Company uses a standard cost system for and applies overhead based on machine hours. The following information is available for June: Calculate the fixed overhead budget variance and volume variance for the month of June.
A bank quotes certificate of deposit (CD) yields both as annual percentage rates (APR) without compounding and as annual percentage yields (APY) that include the effects of monthly compounding.
Compute net cash provided by operating activities,the net change in cash during the year, and free cash flow.
What do you think about this thought process? How could you convince someone that they should deduct their charitable contributions?
Who will receive exchange treatment as a result of the redemption?
If the cost of goods manufactured during the year amounted to $1,330,000 and annual sales were $1,996,000, how much is the amount of gross profit for the year?
Information regarding Central Company's individual investments in securities during its calendar-year 2011, along with the December 31,2011, fairs value, follows.
Cameron Bly is a sales manager for an automobile dealership-Does the warranty accrual decision create any ethical dilemma for Bly? Since warranty expenses vary, what percent do you think Bly should choose for the current year? Justify your response.
How has automation aided the preparation, accuracy, and use of the financial statement worksheet and completion of the financial statements? What automation tool has been most useful to you?
Why is it difficult to develop accounting reporting categories that are uniform for governments within the same type of entity (e.g. cities) and even more difficult to develop them for governments within different types of entities
Gentry Company produces speaker systems for trucks. Estimated sales (in units) in January are 20,000; in February 25,000; and in March 22,000. Each unit is priced at $45. Gentry wants to have 25% of the following month's sales in ending inventory.
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