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You are controller for an architectural firm whose accounting year ends on December 21. As par of the management team, you receive a year-end bonus directly related to the firm's earnings for the year. One of your duties is to review the transactions recorded by the bookkeepers. A new bookkeeper recorded the receipt of $10,000 in cash as an increase in cash and an increase in service revenue. The $10,000 is a deposit and the bookkeeper explains to you that the firm plans to provide the services to the client in March of the following year. 1. Did the bookkeeper correctly record the client's deposit? Explain your answer. 2. What would you do as controller for the firm? Do you have a responsibility to do anything to correct the books? Explain your answer.
comstock company counted their inventory at the end of the year and had 220 units. included in that amount were 20
queensland company reports the following operating results for the month of april.queensland company cvp income
a study has been conducted to determine if one of the departments in parry company should be discontinued. the
Prepare a partial balance sheet showing the presentation of bonds and the interest payable at December 31, 2001
What was the average issue price of the common stock shares?
on january 1 of year 1 arthur and aretha franklin purchased a home for 1.5 million by paying 200000 down and borrowing
A company received a special one-time order for 1000 units. Producing the order will have no effect on the production and sales of other units. The buyers name will stamped on each unit, at cost of $2000. Normal cost data, excluding stamping, follows
hanson company is constructing a building. construction began on february 1 and was completed on december 31.
on an involuntary conversion in which the taxpayer does not buy replacement property within the replacement period the gain on the involuntary conversion and any tax due must be reported.
In addition Explain the differences between the "Direct Method" and the "Indirect Method" of presentation of the Statement of Cash Flows and how each differs for the reporting classifications.
russell corporation sold a parcel of land valued at 592500. its basis in the land was 391050. for the land russell
Fouch Company makes 30,000 units per year of a part it uses in the products it manufactures. The unit product cost of this part is computed as follows.
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