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1. What are the four different adjusting entries? What accounting assumptions necessitate the use of adjusting entries? What accounts are subject to adjusting journal entries? What are the advantages and disadvantages of using automated accounting systems to do adjusting entries? What are your thoughts on making adjusting entries; are they really needed or is this just extra work by accountants? 2. What is the revenue recognition principle? What is the expense recognition principle? In your opinion, why are these important to financial reporting IFRS1-3 What is the benefit of a single set of high-quality accounting standards? Discuss the potential advantages and disadvantages that countries outside the United States should consider before adopting regulations, such as those in the Sarbanes-Oxley Act, that increase corporate internal control requirements
What is the measurement date, how long is the service period and what is the total compensation cost, if any?
Laquesha Enterprises. sells its only product for $9 per unit, variable production costs are $3 per unit, and selling and administrative costs are $1.50 per unit. Fixed costs for 10,000 units are $5,000. Calculate the contribution margin per unit a..
innovative technologies inc. incurred research and development costs of 150000 and legal fees of 42000 to acquire a
x company is considering buying a part next year that they currently make. this years total production costs for 11900
if management accountants dont have to follow gaap in their reporting and have the freedom of more customized reporting
The results appear as a weekly listing of the top 25 teams in the nation. Do you think that these polls illustrate the process of measurement? Discuss.
allowance for doubtful accounts has a credit balance of 677 at the end of the year and an analysis of accounts in the
card co. acquired 80 of the common stock of dana corp. for 1600000. the fair value of danas net assets was 1850000 and
create a spreadsheet to compute the npv and payback period to assist with a purchase decision. use to results to answer
sams club operates a regional chain of upscale department stores. the company is going to open another store soon in a
lyons company deducts depreciation expense of 150000 for tax purposes in 2010 but the expense is not yet
jensen fences uses job order costing. manufacturing overhead is charged to individual jobs through the use of a
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