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Answer following question:
1. what are the several fields of accounting and how do they differ?
2. how are expenses and revenues affect the owners' equity account?
3. why are expenses and revenues recorded separately from the owner's equity account?
4. are adjusting entries used in an accrual basis accounting system or in a cash basis accounting system? Why?
Why do you think the two students decided to incorporate their business rather than operate it as a partnership and prepare an income statement for the month ended May 31, 2010.
The inventory of finished goods on April 1 was 120,000 units. The finished goods inventory at the end of each month equals 20 percent of sales anticipated for the following month. There is no work in process.
Calculate number of shares outstanding at the time of the cash dividend and the amount of cash required to fund the cash dividend.
Capital Structure decisions - The cost of capital for a project depends primarily on the
The sales mix (as a percent of total dollar sales) of its three product lines is: birthday candles 30%, standard tapered candles 50%, and large scented candles 20%. Illustrate w hat is the weighted-average contribution margin ratio?
Kirk was insured for 70% of his actual loss, and he received the insurance settlement. Illustrate what is Kirk's allowable casualty loss deduction?
What type of inventory control system would you suggest to Jim Reed and Type of inventory control system
Wynn, Inc. believes there are inherent hazards in contract beyond the normal, recurring business risks. Wynn, Inc. expects to recover all its costs under contract. Under these conditions, what amount of revenue should Wynn, Inc. identify in each o..
What do you meant by the term liability management? Discuss the instruments that banks use in liability management. What are the advantages and potential pitfalls of aggressive use of liability management for commercial banks?
It wasnt until the monthly payroll reports were sent to kens supervisor that the error was detected. Ken refused to return the four extra checks. What actions should the company take?
Prepare the necessary journal entries for the years ending December 31, 2011, 2012, and 2013. Show all computations and determine the amount of interest to be capitalized in 2013 in relation to the construction of the building.
Use this information to purpose a cash budget for the months of May and June, using the template provided in Doc Sharing. What are the sections of a cash budget, and what is included in each section?
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