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MRC sells a temporary pass for ten uses of the facility for a cost of $80 The temporary pass must be used over a three-month period. As of 12/31/x1, the number of outstanding temporary passes is 166 As of December 31, 20x1 it is determined that the percentage remaining for unearned temporary pass revenue is 25% 2002: All unearned temporary pass revenue as of 12/31/x1 was earned in the first few months of 20x1 Additional temporary passes were issued throughout 20x2. The number issued were: 275 The cost of each three-month temporary pass remained at $80 It is determined that the number of outstanding temporary passes at 12/31/x1 is 100 The percentage remaining for unearned temporary pass revenue is 45% December 31, 20x2 Record all unearned temporary pass revenue at 12/31/x1 as earned December 31, 20x2 Record the receipt from issuance of temporary passes throughout 20x2 December 31, 20x2 Record unearned temporary pass revenue earned in 20x2
Many professional accountants believe that the main purpose of accounting standards is to protect the public. With that in mind, what do you think are the main objectives of the AICPA code of professional conduct and how does the code relate to pr..
Which of the following 3 bonds should I invest in assuming a 7% interst rate? Please show how you manually calculated this.
at the beginning of 2013 pitman co. purchased an asset for 900000 with an estimated useful life of 5 years and an
Two machines - Machine M and Machine P - are being considered in a replacement decision. Both machines have about the same purchase price and an estimated ten-year life.
Rae Corporation has $100,000,000 in invested capital. The income (NOPAT) is $12,000,000. Sales were $240,000,000. The required return is 10%.
review the information relating to eps found in the walt disney companys 2009 income statement and notes to the
Determine sample size based on the following audit judgments.
the matching principle requires1. that expenses be ignored if their effect on the financial statements are less
(1) Issuance of bonds. (2) Payment of first semiannual interest on December 31, 2009. (3) Amortization by straight-line method of bond premium on December 31, 2009.
For most firms, the function of indicating credit approval is recorded on the:
Explain the consequences of NOT eliminating a sale and purchase of a fixed asset between two companies within the group. Assume that the sale and purchase has resulted in a loss on sale.
company x sells on a 120 net 90 basis customer y buys good with an invoice of 2500. what is the effective annual rate
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