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Maddox Co's forecast of sales is as follows: October $40,000; November $80,000; December $120,000. Sales are 70% cash and 30% credit in any month. Credit sales are collected in full in the following month. 1. Determine the budgeted cash receipts for each of the 3 months? 2. Calculate the balance of Accounts Receivable on October 31 & November 30?
during 2011 southern winn ltd paud dividends of 1 per shares on common stock and 5 per share on its preferred.
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The Financial Accounting Standards Board has developed a conceptual framework for financial accounting and reporting. The FASB has issued seven Statements of Financial Accounting Concepts.
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Identify whether the above audit procedure is a test of control, a substantive test of transactions, or a test of details balances.
What are the main characteristics of intangible assets? How are they presented in the balance sheet? How do you estimate their useful life? Why is there a distinction between purchased and internally created intangibles?
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What is the value of T's capital if T is acquired by F Corporation?
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how accounts receivables and cash go together. Beyond just cash showing when funds are collected how is the timing of receivables different than the timing of cash and how can the company make sure they are on top of collecting the funds due them.
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