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1) If you were given complete authority, how would you propose that generally accepted accounting principles (GAAP) should be developed and enforced in comparison with how the principles are now developed? What issues do you see with the way the current system handles this process?
Please provide reference in APA format and make it about 300 words.
2) Employees are paid every Saturday for the preceding work week. If a balance sheet is prepared on Wednesday, December 31st, what does the amount of wages earned during the first three days of the week (12/29, 12/30, 12/31) represent? Explain. What journal entry would be made for the days worked and what entry would be made when the wages are paid on Saturday?
3) If you were a potential investor and could only review one financial statement of a company in which you would like to buy stock, which financial statement would you choose and why? Be specific with your answer and provide about 250 words.
4) Identify three situations in which accounting measures are based on present values. Do these present value applications involve single sums or annuities, or both single sums and annuities? Explain. Be brief and provide 200 words and provide reference in APA format.
Compute the amount of the annual instalment
Determine the NPV for the purchase, lease without the service contract, and the lease with the service contract.
The study of advanced Cost accounting focuses on the significance of analyzing and managing costs; activity-based management, process costing and cost allocation; planning and decisions making, and evaluating and managing performance.
Hamby Inc. has sales of $ 2,000,000 for the forst quarters of 2014. In making the sales the company incurred the following costs and expense Variable Fixed Cost of Good sold $760,000 $600,000 Selling expenses $ 95,000 $ 60,000 Administrative expense..
Show how Marloweville would record the transactions if it were to issue a $10,000,000 bond and then use the proceeds to construct the golf course.
Use the horizontal model to record the effects of the subsequent items Subscription fees received in advance in September 2010.
What was the firm's operating profit and Compute earnings per share for the year 2009 - What is the gross profit margin (ratio of gross profit to sales)? (Round your answer to the nearest whole percentage. Omit the "%" sign in your response.)
Evaluate the subsequent for Hilton Company: Current cash debt coverage ratio, Cash Debt coverage ratio, Free cash flow
Safety Seats Co. recorded operating data for its shoe division for the year. The company's desired ROI is 5%- Which one of the following is the actual ROI for the year
ACCT 2301 Summer 2, 2013a. Prepare the annual proforma financial statements that you would expect Linda to prepare based on her comments about her expectations for the business.
Evaluate her net pay for the eight days' work paid on February 26.
Liltua Company pays $375,280 for real estate plus $20,100 in closing costs. The real estate consists of land appraised at $157,040; land improvement appraised at $58,890; and a building appraised at $176,670. Allocate the total cost among the thre..
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