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Choose a client or yourself. For confidentiality purposes, use a fictitious name.
Prepare a personal budget, balance sheet, and cash flow statement.
Write a memo that includes the following:
• A summary of the facts, including ages of the client, spouse, and dependents; educational background; income status of client and spouse; and two major concerns and goals.
• Summary of key items and findings from the personal budget, balance sheet, and cash flow statement.
• Recommendations and support for improving the financial situation
What employment records are important to keep? Why?
Prepaid rent at 1/1/10 was $20,000. During 2010 rent payments of $123,000 were made and charged to "rent expense." The 2010 income statement shows as a general expense the item "rent expense" in the amount of $122,000.
The scenario is designed to help you determine and evaluate the payment amount of a car loan and a mortgage, based on the assumption that your household income is $36,000 per year or $3,000 per month.
If operating lease commitments are considered equivalent to debt, what percentage of the American's debt is represented by the lease liabilities?
Write Company has a maximum capacity of 200,000 units per year. Variable manufacturing costs are $12 per unit. Fixed overhead is $600,000 per year. Variable selling and administrative costs are $5 per unit, and fixed selling and administrative cos..
Answer the following questions based on Scottsdale, AZ CAFR year ending June 30, 2012.
Prepare the journal entry to record the issuance of the bonds and the related bond issue costs incurred on January 1, 2009.
William received his bank statement from Trader's Bank indicating an ending balance of $6,206.55. William's checkbook showed a balance of $5,549.30. William noticed that $759.00 in checks were outstanding.
The Economic Order Quantity (EOQ) model is helpful in determining accurate inventory decisions. Discuss the major inventory costs that are used in determining the EOQ.
Explain the meaning of the increase or decrease in the LIFO reserve during the 2010. What does this tell you about inventory costs for the company? Are they rising or falling? Explain.
Intrepid Inc. declared a $1,000,000 cash dividend. It currently has 15,000 shares of 6%, $100 par value cumulative preferred stock outstanding. It is one year in arrears on its preferred stock. How much cash will Intrepid distribute to the common ..
Determine whether or not the measurement of net income for a merchandising company conceptually is the same for a service company.
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