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Several not for profit organizations use television campaigns to obtain pledges to contribute cash. Some people think that not- for- profit entities should recognize pledges as revenues when the cash is actually received. Others would recognize revenues when the pledges are made subject to a pro-vision for amounts not likely to be collected. Based on that scenario discuss (a) the need for an accounting standards setting body (b) the qualifications that members of that body should possess, and (c) the procedures that body should adopt in establishing accounting standards.
How do you determine adjustments on balance sheet and income statement
max corp. has three main sources of external funding bonds bank loans and common stock. the firms tax rate is 40.
the following is a series of related transactions between siogo shoes a shoe wholesaler and sole mates a chain of
new vision company completed its income statement and balance sheet for 2010 and provided the following
kretz corporation prepares monthly financial statements andtherefore adjusts its accounts at the end of every month.
cindy houston has 27600 debt that she wants tp repay 4 yrs from today. she has 19553 that she intends to invest for the
an insurance company has the following profitability analysis of its services life insurance auto insurance home
Bo Vonderweidt, the production manager for Sportway Corporation, had requested to have lunch with the company president. Vonderweidt wanted to put forward his suggestion to add a new product line
analyze transaction and compute net income1. invested 15 000 cash to start the agency.2. paid 600 cash for april office
The column of the income statement show the debits are equal to $56,899 and credits are $60,333. What do this information mean to the accountant?
Johnny Bravo Company began operations in 2012 and has provided the following information.1. Pretax financial income for 2012 is $100,000. 2. The tax rate enacted for 2012 and future years is 40%.
Unger Company uses the perpetual inventory method. Unger sold goods that cost $3,500 for $7,200. If the sale was made to a customer on account, the sale will:
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