What effect would that have on the accounting system
Discuss why it is necessary for accountants to assume that an economic entity will remain a going concern. If an entity was perceived to be short term, what effect would that have on the accounting system?
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Belgrade Lakes Properties is developing a golf course subdivision that includes 225 home lots; 100 lots are golf course lots and will sell for $115,000 each; 125 are street frontage lots and will sell for $85,000.
Minium required rate of return of 10% and is considering in a project that require investment of $21000 and expected to generate cash inflow of 9000 at the end of each year for 3 year. the present value of future cash inflow for the project is?
There are two types of current liabilities that must be estimated. Describe them and explain why they must be estimated. How are the financial statements affected if they are not estimated?
ToolTime has a standard of 1.5 pounds of materials per unit, at $2 per pound. In producing 2,000 units, ToolTime used 3,100 pounds of materials at a total cost of $6,045. ToolTime's materials price variance is?
Manufacturer of heavy grade fabric uniforms for use in fire service, law enforcement, and extensive military applications. TCC sells primarily on account to their governmental clients who have varied payment histories.
A dairy allocates the cost of unprocessed milk to the production of milk, cream, butter and cheese. For the current period, unprocessed milk was purchased for $360,000.
Orasco Company is considering purchasing new equipment for $352,657. It is expected that the equipment will produce net annual cash flows of $49,670 over its 10-year useful life.
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