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A firm operate at 90% of capacity for the past year, during which fixed costs were $320,000, variable costs were 60% of sales and sales were $1,000,000. What is operating profit was?
Briefly describe some of the similarities and differences between U.S. GAAP and iGAAP with respect to the accounting for stockholders' equity.
Correction of an error in the financial statements of a prior period discovered subsequent to their issuance.
Oslo Corporation decided to issue common stock and used the $400,000 proceeds to retire all of its outstanding bonds on January 1, 2010. The following information is available for the company for 2009 and 2010.
How will foreign standards affect your audit plan and sampling techniques used to validate original transactions?
Prepare journal entries for investments using the fair value and the equity method. How does it relate to the practice of accounting and its uses in business?
It is sometimes said that in debt service funds, the accounting for interest revenue is inconsistent with that for interest expenditure. Explain. What is the rationale for this seeming inconsistency?
Explain how analytical and inferential tools can aid in the evaluation of accounting evidence. If you use references please write them down.
Late in the current year, Brad Corporation's factory was destroyed by a tornado. Brad determined that it had a $200,000 unreimbursed loss on the building built ten years ago and a $75,000 gain on ten-year-old machinery (cost $100,000). Prior to th..
edward company's required rate of return is 15%. the company can purchase a new machine at cost 40,350/. the new machine would generate cash inflows of 15,000 per year and have a four-year life with no salvage value. compute the machine's net pres..
Orange has a $20,000 charitable contribution carryover to 2010 from a prior year. Identify the tax issues the board should consider regarding the proposed contribution.
A company's retained earnings on December 31, 2011 was $2,190,000 and its shareholders equity was $8,760,000.
When a process costing system is used, explain how the normal and abnormal spoilages information influences on.
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