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What are the commonly used components when measuring economic damages in a wrongful discharge case?
On December 1, 2007 Gates Company borrowed $45, 00 cash from FirstBank on a 90-day, 9% note payable. Prepare Gate's general journal entry to record the insurance of the note payable.
During 2010, Sparrow Corporation, a calendar year C corporation, had operating income of $510,000, operating expenses of $370,000, a short-term capital loss of $25,000, and a long-term capital gain of $80,000. How much is Sparrow's tax liability f..
Dave Ganz started a sole proprietorship by depositing $30,000 cash in a business checking account. During the accounting period the business earned $6,000 of net income and Ganz withdrew $2,000 cash from the business.
What is the amount of Joel's realized gain, what is the amount and character of its recognized gain (if any), and what is its basis in the land it received from Sara in the exchange on November 1, 2012? Please explain and show all calculations.
Joel has four transactions involving the sale of capital assets during the year resulting in a STCG of $5,000, a STCL of $12,000, a LTCG of $1,800 and a LTCL of $1,000. As a result of these transactions, Joel will:
Identify three major accounting issues on which IFRS and US GAAP currently differ. For each, outline briefly the nature of the divergence, and discuss the potential impact if the IFRS position is adopted in the US.
What are the major objectives of financial reporting? Who are the users of financial reporting? What type of information will each user group need? Why?
On june 30, 2012, mackes company issued 5,000,000 face value of 13%, 20 year bonds at $5,376,150, a yield of 12%. Mackes uses the effective-interest method to amortize bond premium of discount. the bonds pay semiannual interest on june 30 and dece..
Assuming no change in actuarial assumptions and estimates, determine the service cost component of pension expense for the year ended December 31. (Enter your answer in millions. Omit the "tiny_mce_markerquot; sign in your response.)
Explain in detail a post-closing trial balance, how it relates to the practice of accounting and its uses in business?
An internal control dictates client personnel sign all copies of sales invoices as evidence of having agreed the price to the Master Price List.
Describe different revenue recognition methods under GAAP and IFRS. Define ADR firms.
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