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1. After we consider the delay of depositing cash, next we turn our attention into how deposits are recorded and then taken to the bank for deposit. What steps do we need to take to insure that all deposits are recorded and that the actual deposit is taken to the bank?
2. The cash area is one of the most highly audited (and watched) item on the balance sheet for the reasons stated in your discussion question this week. Consider some of the more important cash receipt processing items. For example: are receipts deposited daily, intact, and without delay? Why is delay so important to monitor?
3. Besides the early pay discount entries, I would also like us to consider the end of month accruals that go with accounts receivable. What else do we do at the end of the month to make sure we are listing our A/R at the net realizable value?
4. How do we know how much bad debt we should estimate and post at the end of each monthly period? What goes into our calculations on the allowance for bad debt?
Prepare the income tax section of the 2017 income statement beginning with the line "Operating loss before income taxes."
How would you determine if any fraudulent or illegal activity has taken place? Explain how the users of these statements (i.e., investors, creditors, or government agencies) could use the information to help make better informed decisions.
What are some steps taken by both the FASB and IASB to move to fair value measurement for financial instruments? In what ways have some of the approaches differed?
The comparative financial statements of Blige Inc. are as follows. The market price of Blige Inc. common stock was $65 on December 31, 2016.
lindsey operates a small chain of skisnowboard shops in colorado. in november of 2013 she decided to attend a two-day
Specify an appropriate cost driver for tracing costs associated with the various levels of activities to the next cost objective or products, whichever is appropriate.
one company buys a controllingcp interest in anither company on april 1. explain how the pre-acquisiton revenues anc
A leading broker has advertised money multiplier certificates that will triple your money in nine years; that is, if you buy one for $333.33 today, it will pay you $1,000 at the end of nine years. What rate of return will you earn on these money m..
Use of the effective-interest method in amortizing bond premiums and discounts results in
gruner company produces golf discs which it normally sells to retailers for 6.89 each. the cost of manufacturing 17300
Assume that the allowance for doubtful accounts for Cutthroat Company has a debit balance of $1,370 before adjustment on December 31, 2009. Journalize the adjusting entry for uncollectibleaccounts.
Journalize Swain Enterprises entries to record - Entries for discounting notes payable
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