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Kim presently owns a business that processes and distributes fresh vegetable to local supermarkets. She is looking to expand her business by acquiring the Lackawaxen Emu Oil Company, a manufactures of makeup and beauty products contain emu oil. Kim looks over the financial statements of Lackawaxen and notice that the number of day's sales in inventory is five times higher than in her fresh vegetable business. Kim contacts her accountant Justin Maul, CPA, and asks him to look into this matter further. Justin informs Kim that she shouldn't be concerned with the difference in the number of day's sales in inventory between her fresh vegetable business and the emu-oil-based beauty products business. Explain why Justin Maul wasn't concerned.
Inflation Accounting: It is related along with the adjustment in the value of assets that is current and fixed and of income in the light of changes in the price level. In a
Suppose you want to have $5,000 saved at the end of five years. The bank will pay you 2% interest on your money. How much would you have to deposit today to have the $5,000 you w
Q. Example of adjusting entries? Regulate entries bring the amounts in the general ledger accounts to their proper balances before the company prepares its financial statements
Posting closing entries When closing entries are entered in the General Journal, they must appear on the next line after Adjusting Entries. The words "Closing Entries" must be
A firm has $200,000 in total assets and $120,000 in owner's equity. What are the total liabilities? A. $80,000 B. $200,000 C. $320,000 D. Cannot be determined from the info
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.”
On January 1, 2012, Bartell Company sold its idle plant facility to Cooper Inc. for $1,050000. On this date, the plant had a depreciated cost of $735,000. Cooper paid $150,000 ca
At the reception it is decrypted and actual data is obtained. Explain the different methods of encryption technique
Goodwill is an intangible asset of a organization which contains company reputation, fame etc., By goodwill company share value may enhances
Q. Explain about Prepaid insurance? The two accounts recitations to insurance are Prepaid Insurance (an asset) and Insurance Expense (an expense). Subsequent to posting this en
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