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For each of the following situations, indicate whether it represents an accounting error and explain why it is or is not an error. Also state whether a trial balance would indicate that an error exists for each situation.
a. Cash received from a customer was debited to Accounts Receivable and credited to Cash.
b. Revenue was recognized when a customer purchased a gift card for future use.
c. An expense was recorded as an asset.
d. The debit side of a journal entry was recorded in the accounts, but the credit side was not.
e. A company shareholder purchased a new car, but this was not recorded by the company.
rob carpenter is a senior manager at a prestigious accounting firm and was recently transferred to the international
In the United States, about one in every four companies uses variable costing for internal reporting purposes. These companies must make adjustments to these reports for external-reporting purposes. Explain.
classic attire is the designer and manufacturer of prom dresses. the president of classic wants to switch to an
What additional guidelines requirements are related to ethics are required to ensure consistency of CPAs across the nation? What are some examples of ethics violations?
Discuss the advantages and disadvantages of at least two (2) forms of business structures. Make a recommendation regarding the structure your friend or relative should use based on this particular venture.
Compare and contrast natural versus anthropogenic climate changes. Include specific examples of each.
Determine the total flexible budget materials variance for pigment. Indicate whether the variance is favorable or unfavorable and determine the materials price variance and indicate whether the variance is favorable (F) or unfavorable (U).
Which of the following is an example of a variable cost?
The community of Tampa, Florida, has a diverse population, with healthcare being provided to persons with low incomes,extremely wealthy individuals.
the beta of elsenore inc. stock is 1.6 whereas the risk-free rate of return is 8 percent. if the expected return on
a small equipment company is preparing its annual financial statements in anticipation of applying for a loan. during
Apply the maximin criterion, assuming that the worst outcome in Business 1 is to lose $5,000, whereas the worst outcome in Business 2 is to make only $5,000 in profit.
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