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Weekly tasks or assignments (Individual or Group Projects) will be due by Monday and late submissions will be assigned a late penalty in accordance with the late penalty policy found in the syllabus. NOTE: All submission posting times are based on midnight Central Time.
You are a fresh accounting graduate. You have landed a job with a big 3 accounting firm. The first day at your job, your manager approaches you: "Hi Bill! Welcome aboard. Hope you like your new cubicle. Have you met everyone? By the way, you will be working with me from tomorrow on Long House Company. This is an important client. They have sent me some information on their projects. Can you provide a report that answers all of the questions listed below? By the way I need it by tomorrow morning at 8 a.m.!"
Project
Total Contract Price
Billings Through 12/31/12
Cash Collections Through 12/31/12
Contract Costs Incurred Through 12/31/12
Estimated Additional Costs to Complete
A
$200,000
$100,000
$80,000
$120,000
$90,000
B
250,000
50,000
45,000
40,000
180,000
C
150,000
120,000
0
D
100,000
10,000
5,000
80,000
20,000
E
140,000
110,000
870,000
460,000
390,000
300,000
Describe what other tax revenue systems could you consider and how do you think they would be better or worse?
What is the learning curve represented by the data in the unit learning curve table - What is the correct amount to include in your budget request for this project?
The agreement also provide that if an audit adjustment is made to items reported on the schedule K-1, Bushong can make a discretionary distribution to handle the increased taxes resulting from the adjustment.
In recent times, there has been a case of accounting for changing price, from the traditional historical cost accounting to more "appropriate" methods.
Create a production budget and estimate the materials, labor, and overhead costs for year 2 - Alloy and Steel inventories will not change. Sales are roughly uniform over the year.
Find cost relevant in deciding whether to move the manufacturing facility to a different location - Brown Manufacturing Company
The Chadmark Corporation's budgeted monthly sales are $3,000. In the first month, 40% of its customers pay and take the 2% discount. The remaining 60% pay in the month following the sale and don't receive a discount.
Chris spends $800,000 to build a qualified low-income housing project, which is placed in service on January 1, 2005. He financed the project using his personal funds. What is the amount of the low-income housing credit that Chris may claim in 200..
Finch supplies remaining components and assemble the final product at a cost $340. Finch's marketing, packaging, and shipping expenses total $40 per unit. Each unit is sold for $2,800.
The company has sufficient capacity to produce the additional units. How much is the relevant income effect of accepting the special order?
Analyze the method of accounting used for the general fund and all other funds in existence by the government. Evaluate the reasoning for the use of the method of accounting for each of the funds as required by GAASB.
What is the present value of the cash flow stream that the company is offering you
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