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With regard to GASB rules for the financial reporting entity, answer the following:
In which countries does taxation tend to have a major influence on published company accounts? Discuss how this influence takes effect and what the position is regarding the treatment of taxation in
Prepare the necessary calculations and make the end of year entries for Heiden Company for the years 2006,2007,2008.
The Pitney Company's sales are 40% cash and 60% credit. 50% of credit sales are collected in the month of sale, 30% in the month following the sale, and 20% is collected two months after. Budgeted s
If it is impracticable to determine the cumulative effect of applying a change in accounting principle to any prior period, the new accounting principle shall be applied as if the change was made pr
Both S Corps and partnerships have rules on permissible tax years, and cannot just use whatever tax year they like. What are the rules for each? Compare and contrast them, since they are not exactly
The differences in basis limitation rules for partnerships vs. S corps, ESPECIALLY in terms of LIABILITIES and how these affect the amount of losses that can be passed through under the basis limita
For people who own their own company, their FICA tax rate on income up to about $90,000 is 15.3%. That is a lot on top of their other taxes. If they are in a federal 27% rate, and have state and cit
Which of the following is important when evaluating long-term investments?
EBITDA cover ratio willis publishing has $30 billion in total asset.its basic earning power (BEP) ratio is 20% and its time interest earned ratio is 8.0 willis depreciation and amortization expenses
Based on the information given above, what amount of premium on bonds payable will be eliminated in the preparation of the 2008 consolidated financial statements?
In April 2012 emma aquired a new machine for $60,000 for use in her business. The machine is classified as a seven-year property. Emma does not expense the asset under Sec 179 and she makes no other
Joan bought a business Machine for $15,000 on January 1, 2010, and later sold the machine for $12,800, when the total allowable depreciation is $8500. The depreciation actually taken on the tax retu
Several years ago, Bannett, Inc., bought a portion of the outstanding bonds of Smith Corporation, a subsidiary organization. The acquisition was made from an outside party. In the current year, how
Assuming the company uses variable costing, calculate Sele's manufacturing cost per unit for 2010.
Determine sales mix percentage and contribution margin ratio for each division.
Prepare a CVP income statement for 2010, assuming the changes are made as described.
We have learned that a positive cash balance is an asset and that an asset's balance decreases with a credit entry and increases with a debit entry. If this is the case, why do banks refer to these
Discuss the reasons why Jordan would want to treat the leases as a sales-type instead of operating leases
How do you journalize this transaction? Purchased merchandise on account from Miramar Co., list price $45,000, trade discount 20% , terms FOB shipping point, 2/10, n/30, with prepaid freight of $1,
Based on the information given above, what gain or loss on the retirement of bonds should be reported in the 2008 consolidated income statement?
On January 1, 2010, Gore Co. sold to Cey Corp. $400,000 of its 10% bonds for $354,118 to yield 12%. Interest is payable semiannually on January 1 and July 1. What amount should Gore report as intere
Briefly discuss the accounting and securities market differences between these two methods of increasing the number of shares outstanding.
All direct materials are addeed at the beginning of the production cycle. Weighted-average costing is used by Lumbar.
Assume that the purchase commitment was properly recorded. What is the journal entry to record the purchase?