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Accounting
Primary Task Response: Within the Discussion Board area, write 300-400 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.
• Closing Entries
o What are the reasons for closing entries?o What accounts are closed?o How are closing entries done?o What is the result of the closing entry?
• Merchandising
o What is the difference between a service and a merchandising business? Provide an example of each.o What are three new types of merchandising accounts?
Aftab Company limited realized itself as a social responsible company and decided to construct an employees housing society. How would it capitalize the borrowing cost?
Describe the classification of expenditures as those that are related to a taxpayer's trade or business, those for the production of income, and those for personal use. 200-300 words
predict what the probability would be of this situation happening again. Then, suggest what management can do to prevent future embezzlement. Provide specific examples to support your response.
What amount of net income was reported (in millions) for the year ended February 2, 2014? What amount of sales revenue ( in millions) was earned for the year ended February 2, 2014? What was the cost (in millions) of the company's inventory on Februa..
masse corporation uses part g18 in one of its products. the companys accounting department reports the following costs
what are the most important components of the mission statement? what are some skills you possess that will be useful
irene is saving for a new car she hopes to purchase either two or four years from now. irene invests 21250 in a growth
What are examples of irregular items? How does a change in accounting principles affect the financial statements? Who in the organization is responsible for the application of a change in an accounting principle? Why?
What criteria would be appropriate to select and compare among competing bidders for custom development of an application? Define each of these criteria.
Define each of the following terms, giving each a verbal explanation and an equation:
the write-off of an account that has been judged to be uncollectible will not affect the net accounts receivable
touring enterprises inc. has a capital structure consisting of 18 million in long-term debt and 7 million in common
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