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1) If you were given complete authority, how would you propose that generally accepted accounting principles (GAAP) should be developed and enforced in comparison with how the principles are now developed? What issues do you see with the way the current system handles this process? Please provide reference in APA format and make it about 300 words.
2) Employees are paid every Saturday for the preceding work week. If a balance sheet is prepared on Wednesday, December 31st, what does the amount of wages earned during the first three days of the week (12/29, 12/30, 12/31) represent? Explain. What journal entry would be made for the days worked and what entry would be made when the wages are paid on Saturday?
3) If you were a potential investor and could only review one financial statement of a company in which you would like to buy stock, which financial statement would you choose and why? Be specific with your answer and provide about 250 words.
4) Identify three situations in which accounting measures are based on present values. Do these present value applications involve single sums or annuities, or both single sums and annuities? Explain. Be brief and provide 200 words and provide reference in APA format.
Based on this information prepare a Balance Sheet, Income Statement and Statement of Retained Earnings.
What do you see as the major impediments to effective budgeting in organizations? Why? How relevant should allocated costs be in product-costing decisions? Why? What are the major benefits of using transfer pricing in organizations? What are the disa..
Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.
Critically evaluate the social, cultural or political implications of either the planning, controlling or decision making elements of management accounting.
Discuss how the management and risk at each level of the corporation is brought together into a comprehensive risk management program.
Northeast Logging Co. of $120,000. The seller agreed to allow a 5 percent discount because Northeast paid cash. Determine the amount to be capatilized in an asset account for the purchase of the saw.
Oasimi Company, which has only one product, has provided following data concerning its most recent month of operations: Find out the unit product cost for the month under variable costing?
uppose the company decides that only 1,400 units can be sold at a price of $5,000 and, therefore, the target cost cannot be reached. The company is considering. dropping the steam feature, which adds $600 of variable cost per unit. With this featu..
JungleGym, a best-selling toy has a selling price of $15. If the contribution margin ratio is 40% and if the fixed costs are $60,000, how many JungleGyms must the company sell to realize a profit of $450,000?
You are a manager of a firm that sells a "commodity" in market that resembles perfect competition, and your cost function is C(Q) = Q + 1Q^2. Calculate the expected market price.
Evaluate the total cost of the work in process inventory on January 31. Determine the cost of jobs completed during January, and show the proper journal entry to reflect job completion.
Process Solutions provides a computer-based document processing service and general Manager has asked for your advice in relation to this disagreement within the management team.
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