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Shinobi Inc. had a manufacturing plant in Darfur, which was destroyed in the civil war. It is not certain who will compensate Shinobi for this destruction, but Shinobi has been assured by governmental officials that it will receive a definite amount for this plant. The amount of the compensation will be less than the fair value of the plant but more than its book value. How should the contingency be reported in the financial statements of Shinobi Inc.?
in this mini-case you will read about a willis and adams staff auditor who is confronted with an ethical challenge. you
s company reports the following annual cost data for its single productnormal production level 75000 units direct
When a company sells a product for cash, it generally recognizees the revenue. However, there are situations when it is not always clear when a company should recognize the revenue.
the following transactions occurred during 2014. assume that depreciation of 10 per year is charged on all machinery
prepare journal entries to record the following merchandising transactions of yang company which applies the perpetual
Prepare all journal entries to record the preceding information. How the accounts related to BBB's factoring and assignment agreements be reported on BBB's year end financial statements
You have been employed as an entry level management accountant for a little under a year. you suspect that your immediate supervisor is involved in asignificant fraud involving diverting of company assetts to personal use.
theodore williams reports 130000 of net profit on schedule .compute theodores 2012 schedule se if his salary subject to
a compute the revised annual depreciation on each asset in 2014b prepare the entries to record depreciation on the
The Miller-Porter company sells powder coating equipment at a sales price of $50,000 per unit. The sales price includes delivery, installation, and initial testing of the equipment.
sophisticates inc. a distributor of jewelry throughout california is in the process of assembling a cash budget for the
What amount of bad debts expense will LaFond report for 2013?
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