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Question 1: Find the new accounting rules for leases within the codification. Discuss how these changes may impact the company you work for (provided they have leases). If the company you work for is not impacted by these lease changes, discuss how these changes will impact another companies that have leases (ie. your bank or a store where you shop, etc.).
Reproduce the journal entries for the transactions that occurred on October 1, 10, and 20, and provide explanations for each.
Fixed costs total $66,000 per month. What are the number of regular-price guests and discount guests at the breakeven point?
Moore Company had an Accounts Receivable balance of $640,000 and a credit balance in allowance for Uncollectible Accounts of $33,400 at January 1, 2011. Prepare T accounts for Accounts Receivable and Allowance for Uncollectible Accounts. Enter the be..
ABC produces high-tech storage systems. The company is in its fifth year of operations and is preparing to build. Prepare Direct Materials purchases budget.
Prepare the trial balance of Oakland Floor Coverings at December 31, 2012 - Oakland Floor Coverings reported the following summarized data at December
As an investor, how would you use accounting information to evaluate the risk of excessive use of leverage? What additional information would be useful? Explain.
In 2005, Costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). Record this transaction in the financial statement effects template
Determine a firm's financial condition by calculating and benchmarking specified ratios against other companies in the industry.
A company borrowed $60,000 by signing a 60-day, 10% note payable from its bank. Compute total cash payment due on the note's maturity date.
Your company has earnings per share of $4. It has 1 million shares outstanding, each of which has a price of $40. You are thinking of buying TargetCo, which has earnings per share of $2, 1 million shares outstanding, and a price per share of $25. You..
Johnny Bravo Company began operations in 2012 and has provided the following information. Gross profit on construction contracts using the percentage-of-completion method for book purposes amounts to $92,000. Gross profit on construction contracts fo..
Lewis Company’s standard labor cost of producing one unit of Product DD is 3.20 hours at the rate of $14.00 per hour. During August, 42,900 hours of labor are incurred at a cost of $14.18 per hour to produce 13,300 units of Product DD. Compute the la..
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