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What is the difference between a legislative regulation and an interpretative regulation?
Canliss Mining uses the retirement method to determine depreciation on its office equipment. During 2009, its first year of operations, office equipment was purchased at a cost of $14,000.
A taxpayer, who uses the cash method of accounting for tax purposes, received income in 1989, 1990, 1991 and 1992 for illegal espionage activities performed in 1985.
The minimum lease payments were determined to have a present value of $208,493 at an effective interest rate of 10%. In 2009, Dalton should record interest expense of
During the year, Loon Corporation has the following trancastions: $ 400,000 operation income, $355,000 operating expenses, $25,000 municipal bond interest, $ 60,000 long-term capital gain, and $ 95,000 short-term capital loss.
What are the differences in reporting guidance in a for-profit and not-for-profit organization? What are the similarities in reporting guidance in a for-profit and not-for-profit organization?
Determine the (a) price variance, (b) quantity variance, and (c) cost variance - Diamond Company produces a chair that requires 5 yds. of material per unit.
In each of the following independent situations, determine Winston's filing status for 2012 and why. Winston is NOT married.
Assume a nonprofit has a restricted fund for capital asset purchases. Compare the journal entries for the cash purchase of a $10,000 computer by the nonprofit, to how the journal entry would look for this for-profit.
Matt Company uses activity-based costing. The company has two products: A and B. The annual production and sales of Product A is 8,000 units and of Product B is 6,000 units. There are three activity cost pools, with estimated total cost and expect..
Many companies use a balanced scorecard for performance evaluation. The balanced scorecard has four business perspectives, and utilizes KPIs to evaluate performance in various areas. Which of the following KPIs would relate to the financial perspe..
Presented below are 3 unrelated situations involving equity securities: What is the effect upon carrying value and earnings for each of the situations above?
A corporation has 1,000 shares of 10 percent, $50 par-value preferred stock and 10,000 shares of $5 par-value common stock outstanding. If the board of the directors decides to distribute dividends totaling $40,000, the common stockholders will re..
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