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Your supervisor at YOUCPA wants to know what you think about the proposed change from GAAP to IFRS in the United States and how it will impact revenue recognition.
The fair market calue of 747 aircraft at december 31,2009 is 30,500,000. If the midwest chose to sell the aircraft on this date would it record a gain or loss on sale and if so, how much?
What is the Accounting Equation? Does it always have to balance, if so why? Are there exceptions to this general rule? If so, what are they?
Should any of the overhead costs at year-end be added to Job W? If so, how much? Explain.
The deferred tax liability classified as noncurrent that resulted from the use of MACRS for tax purposes and straight-line depreciation for financial reporting purposes, increased from $40,000 at the beginning of the year to $44,000 at the end of ..
Magenta Corporation also distributed $60,000 to its sole shareholder, Chuck, on November 30 of the current year. As a result of the distribution, which of the following is the correct regarding how Chuck should treat the distribution for the curre..
Sara owns a sole proprietorship and Phil is the sole shareholder of a C (regular) corporation. Each business sustained a $9,000 operating loss and a $2,000 capital loss for the year. Evaluate how these losses will affect the taxable income of the ..
Conduct an internet search for information on certificates of deposit. Discuss your findings in terms of what CDs are available and their rates. Calculate how much you would stand to make if you invested $1,000
Digger Corporation has $50,000 of current and accumulated E&P. On March 1, Digger distributes land with a $30,000 FMV and a $17,500 adjusted basis to Dave, its sole shareholder. The land is subject to a $5,000 liability which Dave assumes: a. Wha..
Which one of the following would be the same total amount on a flexible budget and a static budget if the activity level is different for the two types of budgets?
Free cash flow is expected to grow at 6% rate after 2011. Thw weighted average cost of capital is 11%. If operating capital as of 12/31/2010 is $502.2 million, what is the free cash flow for 12/31/2011?
What adjustments should be made to net present value to account for inflation?
You are auditing Diverse Carbon, a manufacturer of nerve gas for the military-The company’s legal counsel indicates that the company is liable, but the company does not want to disclose this information in the financial statements.
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