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An auditor noted that client sales increased 10 percent for the year. At the same time, Cost of Goods Sold as a percentage of sales had decreased from 45 percent to 40 percent and year-end accounts receivable had increased by 8 percent. Based on this information, the auditor is most likely concerned about.
In generating theories of accounting based upon what accountants actually do, it is assumed (often implicitly) that what is done by the majority of accountants is the most appropriate practice.
Explain the product and the production process. Describe how you would find out the quantity of spoiled units that are normal versus abnormal. Explain how you would determine the cost of good units, normal spoilage and abnormal spoilage.
Chi Corporation trades an asset with a book value of $20,000 for another asset with a fair market value of $15,000. Find out Chi s cost to record the new asset from the exchange.
Kim is measuring her retirement plan. Assume she has $500,000 when she retires in an account that earns at an effective annual rate of 9%.
Yuli Copters is known to be aggressive in ignoring intellectual property claims. Imagine they just go ahead with the project as stated above. (In other words, they decide not to pay for the license.)
Werner Chemical, Inc., leased a protein analyzer on September 30, 2013-Depreciation is recorded on a straight-line basis at the end of each fiscal year. The useful life of the equipment is five years.
Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR
Calculate the NPV, and the Profitability Index (PI) for this project. Should this project be undertaken?
Using the general rule calculates Martin's taxable income for 2011 from the retirement plan and distributions
A city's Enterprise Fund issued revenue bonds with a face value of $10,000,000-the Enterprise Fund will report total other financing sources in the amount of
Write an analysis about test of liquidity that compare Best buy to Radio Shack and Conn's.
In 2013, it is determined that the total estimated life should be 10 years with a salvage value of $5,490 at the end of that time. Assume straight-line depreciation.
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