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During the year the company’s accounts receivable increased by $ 50,000, inventory decreased by $ 23,000, accounts payable decreased by $ 55,000, and accrued expenses payable increased by $ 14,000. Determine amount of cash provided by or used fo..
Is a salary that is classified as unreasonable by the IRS disallowed as a deduction to the corporation?
Compute the gross profit margin,operating profit margin, and net profit margin for all companies. Then write a short essay explaining the differences you found between the profit margins calculated and why you think the profit margins differ.
Discuss the pros and cons of the U.S. Federal Government guaranteeing the pension funds of a private company when it declares bankruptcy. Discuss whether the U.S. Federal Government should guarantee and state your rationale.
Evaluate the directional impact accounting difference described above would have on the subsequent ratios calculated under IFS and US GAAP.
Calculate the total amount of dividends declared by March for 20X7. Calculate March's profit for 20X8.
Prepare the entry at 12/31/06 necessary to implement the lower-of-cost-or-market procedure assuming Smith uses a contra account for its balance sheet. How are inventory losses disclosed on the income statement?
Fill the journal entry to record interest on 30 th June, using the effective interest method and prepare journal entry to record interest on 31 st December, using the efficient interest method.
Elucidate net income would Ravine Corporation have reported for each of the years, assuming Ravine accounts for the intercorporate investment using (1) the cost method and (2) the equity method?
if this budget is formally integrated into the accounting records, illustrate what journal entry is required at the beginning of the year? What later entry is required?
If Telconnect has applied the partial equity method, what Entry *C is needed for a 2011 consolidation. What noncontrolling interest balance will appear in consolidated financial statements for 2011?
If the company estimates that 8% of its outstanding receivables will be uncollectible, illustrate what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense?
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