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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.
The assets and liabilities of Amos Moving Services at May 31, 2011, the end of the current year, and its revenue and expenses for the year are listed below. On April 1, 2010, the
Treasurer: He is the custodian arid manager of each cash and near-cash resources of the firm. The treasurer arranges credit reviews and sets policy for collecting receivables as d
Q. Example of Income statement of a merchandising firm? To recapitulate the more important relationships in the income statement of a merchandising firm in equation form -
what is going concern concept
While studying evolution, a student comes across a cladogram that includes clades like amphibia, reptilia, aves, and mammalia. What must be the basal clade?
1. An accountant records a transaction when cash is paid or received under which basis of accounting? cash deferred accrual liability 2. When unearned revenue is initially rec
Q. Explain about stable dollar assumption? In the United States accountants make one more assumption regarding money measurement that the stable dollar assumption. Under the st
Q. Determine the cost of ending inventory? The company suppose that the 20 units in inventory consist of 10 units purchased December 21 and 10 units purchased October 12. The o
The measurement of expense Accountants measure largely assets used in operating a business by their historical costs. Consequently they measure a depreciation expense resulting fro
What is procedure for testing after implementation as functional consultant? Ans) Testing involves a step by step check of several transactions configured in the SAP system.
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