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What is impairment of operational assets? How do we determine whether an impairment exists? How do we calculate the impairment loss?
Which method is approved by GAAP? Why? What are the positives and negatives of each? Is it legal for an organization to keep two sets of accounting records; one for tax and one for book? Why or why not? What transactions might fall under a dual me..
(1) Journalize the two adjusting entries required to bring the accounts affected by the taxes up to date as of July 31. (2) What is the amount of tax expense for July?
On January 1, 2011 Piper Co. issued ten-year bonds with a face value of $1,000,000 and a stated interest rate of 10%, payable semiannually on June 30 and December 31. The bonds were sold to yield 12%. Calculate the issue price of the bonds.
Sherman Brothers, Inc., sold 4 million shares in its IPO, at a price of $18.50 per share. Management negotiated a fee (the underwriting spread) of 7% on this transaction.
the litton company has established standards as follows direct material3 pounds per unit 4 per pound 12 per unit
Justify your decision, showing your calculation and overall company's net operating income or loss before and after eliminating Northern Division.
xyz has been an s corporation since its inception six years ago. on january 1 of the current year the corporations two
Roman Company issued $600,000 of 6%, 5-year bonds at 98, with interest paid annually. Assuming straight-line amortization, what is the total interest cost of the bonds?
laci inc. is considering two alternatives to finance its construction of a new 2.00 million plant. a issuance of 200000
Funzy Cereal includes one coupon in its cereal and offers a toy car in exchange for $1.00 and coupons. The cars cost $1.50. 40% of the coupons were redeemed in the 1st month. 12 million boxes of cereal were sold and 2.4 million coupons redeemed. W..
Past experience indicates that 3% of net credit sales become uncollectible. What should be the adjusted balance of allowance for doubtful accounts at December 31,2011?
Compute the net present value for each alternative and determine which alternative is more desirable using the net value criterion. Compute the profitability index for each alternative and determine which alternative is more desirable using the p..
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