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What are audit procedures for duplicate payment of vouchers, proper recording of purchases, determining collectibility of accounts receivable, proper recording of liabilities , testing sales for un
What is the total amount of deductions for and from AGI that Kim may take during the current year with respect to the condominium?
A company recently completed 45,000 units of a product that was expected to consume four pounds of direct material per finished unit. The standard price of the direct material was $8 per pound. If t
Analyze and discuss the current effects of IFRS on the pension reporting for Coca-Cola and PepsiCo at 2009 year-end.
Portfolio return and standard deviation. Jamie Wong is considering building an investment portfolio containing two stocks, L and M. Stock L will represent 40% of the dollar value of the portfolio, a
The par value of the shares is $3 per share. At December 31, 2014 the fair value of the shares is $270,000. Prepare the journal entries necessary in 2013 and 2014 for the restricted shares.
What are examples of controls and test of controls for revenue and collection cycle, acquisition and expenditure cycle and production cycle?
On December 1, 2012, Simmons Company sold land to Keller Company. The two companies entered into an installment sales contract at a predetermined interest rate. The contract required five equal annu
This is the first time Mike agreed to such a payment and he is obligated to outfit one trip per year for the next three summers beginning this year. How much income must Mike recognize in each of th
Donna, age 42 and a single taxpayer, has a salary of $91,800 and interest income of $17,000. What is the maximum amount Donna can contribute to a Roth IRA ?
Halt Company employs material handling employees who move materials between production divisions at a labor cost of $180,000 a year.
You are offered two jobs. One initially pays $100,000 annually, and your salary will grow annually at 11.5%. The other pays pays $97,000 annually, but your salary will grow at 12%. After ten years,
At December 31, Gill Co. reported accounts receivable of $238,000 and an allowance for uncollectible accounts of $600 (debit). An analysis of accounts receivable suggests that the allowance for unco
If the firm purchased and consumed 186,000 pounds in manufacturing (cost = $1,534,500), the direct-materials quantity variance would befigured as:
Which one of the following statements best reflects Sternberg's triarchic theory of intelligence?
Grover has forecast sales to be $125,000 in February, $135,000 in March, $150,000 in April, and $140,000 in May. The average cost of goods sold is 70% of sales.
Prepare amortization schedules that indicate Cromley's effective interest expense for each interest period during the term to maturity.
Had the company reported under U.S. GAAP what amount of the bond proceeds would be accounted for as debt
Julia's Catering has a monthly target operating income of $6,000. Variable expenses are 40% of sales and monthly fixed expenses are $3,600. What is the monthly margin of safety in dollars if the bus
ABC's balance sheet indicates a book value of shareholders' equity of $807,201. The firm's earning per share are $3 and the price-earnings ratio is 10.88. If there are 51,973 shares outstanding, wha
Discuss the differences in accounting handling of investments in which the investor purchases between 20-50% of another entity, and when the investor purchases over 50% of an entity.
XYZ has total sales of $185, assets of $109, return on equity of 35%, and net profit margin of 5%. What is the amount of equity?
In November sold $4,000 of gift cards. $700 of these were redeemed. In December sold $3,000 of gift cards, and redeemed $2,000 of November gift cards, and $400 of December gift cards. Prepare all jo
ABC's balance sheet indicates a book value of shareholders' equity of $837,801. The firm's earning per share are $2.5 and the price-earnings ratio is 12.88. If there are 41,276 shares outstanding, w
XYZ earned a net profit margin of 4.7% last year and had an equity multiplier of 3.1. If its total assets are $114 million and its sales are 163 million, what is the firm's debt ratio?