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The following accounts were included on Megan's Style Consultants adjusted trial balance at December 31, 2010:
Accounts payable $ 2,000
Accounts receivable 5,500
Cash 11,000
Megan, Capital 40,000
Megan, Drawing 10,000
Interest expense 3,000
Note payable, due 8/31/13 60,000
Supplies 1,000
Service revenue 39,000
Equipment 5,000
a) What are total current assets?
b) What are total current liabilities?
What is an example of a potentially unethical accounting situation? Why is the situation unethical? What is meant by the statement, "You cannot teach ethics"? How do ethics affect the financial results of a company?
Sam pays $10,000 for the business's goodwill and another $10,000 for the seller's covenant not to compete for the next five years. Compute Sam's amortization deduction for the year of purchase.
The township authorized a bond issue of $11 million for the construction of a pedestrian walkway as part of a downtown revitalization project. An additional $1 million of general revenues is to be used for the project. The authorization was record..
Which one is not a main question when you evaluate earnings' quality?
Compute Juan's gross income assuming that he uses the cash basis of accounting.
Given the quantity and total fixed and variable costs, compute the remaining costs the complete the following table.
During 2012, Jeff Smallwood worked for two different employers. Until May, he worked for Rowland Construction Company in Cincinnati, Ohio, and earned $22,000. The state unemployment rate for Rowland is 4.6%.
Each year the supervisor prepares an operating budget for the motor pool. The budget informs university management of the funds needed to operate the pool. Depreciation on the automobiles is recorded in the budget in order to determine the costs p..
At the time of the notification what is the appropriate entry in the capital projects fund (assuming that the City has met all eligibility requirements and maintains its books and records in a manner to facilitate the preparation of the fund finan..
Discuss the elements of BFOQ (Bona Fide Occupational Qualification) and how this defense relates to the above case.
Activity-based budgeting includes all the following steps EXCEPT:
The annual market rate at the date of issuance is 6%, and the bonds are sold for $165,523. What is the amount of the disc on these bonds at issuance?
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