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Assignment :
1. Demonstrate an understanding of basic accounting concepts and how these apply apply to business
2. Outline and contrast cash and accrual bases on accounting
3. Prepare a range of financial statements
4. Distinguish the activities of a service business from those of a merchandising business and explain how accounting systems work for these businesses
5. Demonstrate an understanding of the various methods to monitor inventory
6. Describe the nature of cash and importance of internal control over cash
Beige Company has approximately $250,000 in net income in 2011 before deducting any compensation or other payment to its sole owner, Janet (who is single). Assume that Janet is in the 35% marginal tax bracket. Describe the tax aspects of each of t..
Cash Flow Classifications:For each of the following items, indicate whether it would be classified and reported under the operating activities (OA), investing activities (IA), or financing activities (FA) section of a statement of cash flows:
What is the incremental income (loss) and revenue associated with accepting the special order?
Discuss how the budgeting process as employed by Springfield Corporation contributes to failure to achieve the president's sales and profit targets.
The company's current and total liabilities were $267,000 and $600,000, respectively. Compute the amount of working capital and the current ratio using this information.
Include substantive tests of transactions, analytical procedures, and tests of account balances in your audit program. Be sure to identify the procedures necessary to analyze the income statement accounts related to your selected business cycle.
what is noncontrolling interest? Where should a noncontrolling interest appear on a consolidated balance sheet? What disclosure is required
Straight-line amortization is used for discounts and premiums. On September 1, 2014, $1,800,000 of the bonds are called at 102 plus accrued interest. What gain or loss would be recognized on the called bonds on September 1, 2014?
Create a one page memorandum explaining Marquettes estimated tax needs for its current year, providing the necessary supporting authorities.
Explain the Financial statements vs. the financial reporting framework
Determine the unit cost of labor (per class) for last month? How many classes would be provided if Bo increased the number of classes provided by 100 %?
The information provided below is related to equipment owned by Collier Company at December 31, 2007. What is impairment loss for Collier Company under IFRS?
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