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let's talk about the accounting issues related to valuation of accounts receivable and why they are important. Please include the methods for estimating the allowance for bad debt expense in your discussion. How is the allowance account related to bad debt expense?
Jose purchased a house for $300,000 in 2008. He used the house as his personal residence. In March 2011, when the fair market value of the house was $250,000, he converted the house to rental property. What is Jose's cost recovery for 2011?
Describe the principles on which the Big Mac Index is built and how it might help you as an international manager.
Many times the sale of inventory is referred to as upstream and downstream. However, how is it treated if it is from one sub to another? Is the sale of inventory from one sub to another treated in the same manner as an upstream or downstream sale?
The professor, who knew that Joe worked as a factory supervisor, had said that some of Joe's salary could end up on the company's balance sheet at the end of the month. This didn't make any sense to Joe since he gets the salary, not the company.
Net loss is $130,000 and the partners have no written partnership agreement.
There are several potential problems that can occur from the improper use of standard costs. Labor quantity standards and efficiency variances assume that production is labor-paced.
Over the next few years companies will be shifting away form GAAP to IFRS (International Financial Reporting Standards). GAAP was a rules based approach to accounting where IFRS is a more principals based approach to accounting.
What was the amount of cash payments to stockholders during the year?
Using a present value table, calculator, or a computer program present value function, calculate the present value for the following: (Use appropriate factor(s) from the tables provided.)
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.
Collect the 4 main financial statements from credible sources (newspaper, peer-reviewed journals, investor relations, web sites or annual reports. Create a flow chart that illustrates the steps in the accounting cycle.
Complete a common-sized income statement, a common-sized balance sheet, and a statement of cash flows for 2010. Interpret your results.
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