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NATURE OF RESERVE ACCOUNTS. The use of the term reserve in the title of a financial statement account is not acceptable in the United States, primarily because its purpose is often too vague. However, informal use of the term by chief financial officers, analysts, and the media is common when they are discussing various aspects of acceptable accrual accounting techniques employed by U.S. firms. Provide several examples of financial statement accounts that are often loosely referred to as reserves. What is typically common about all financial statement accounts that are informally referred to as reserves?
Prepare a cash flow forecast. Assume that the business will be run for 6 years, and then the building will be sold for 300,000. The equipment will be depreciated straight line over the life of the restaurant.
Using information in the financial statements as originally reported in Exhibits 5.36-5.38, compute the value of Beneish's manipulation index for fiscal Year 5 and Year 6.
On April 9 of the current year, Job XX4 was completed. The job cost sheet showed a total of $4,000 in direct materials and $6,000 in direct labor at a rate of $20 per direct labor hour. Plantwide overhead is applied at $30 per direct labor hour. The ..
A 1-year, $19,800, 12 percent note is signed on April 1. If the note is repaid on December 1 of the same year, how much interest expense is incurred? (Do not round intermediate calculations.)
For the purposes of equity accounting for an investment in an associate, it is presumed that the investor has significant influence over the other entity where the investor holds
If Shi has a target capital structure of 30% debt, 5% preferred stock, and 65% common stock, what is its WACC?
questionwymont company manufactures a single product that needs a large amount of labor time. overhead cost is applied
Explain the possible causes for direct materials price and direct materials usage variances. Who in the organization normally has influence over or responsibility for these variances?
What are three advantages of activity-based costing over traditional volume-based allocation methods and which of the following manufacturing costs are assigned to products
Should Gray make the gift of the land to charity in 2010 or in 2011? Provide support for your answer.
What impact would the new capital structure have on the firm's net income, total dollar return to investors, and ROE and redo the analysis, but now assume that the debt financing would cost 15 percent.
Does it leave a trail of what happened? For example, if anyone has used QuickBooks, you can delete a journal entry if you make a mistake. Would it be preferable to reverse the entry rather than delete it?
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