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Auditors found out that Campbell was delaying payments to creditors at year end and selling inventories as huge discounts in order to improve cash flows. Please highlight the ethical issues involved in this practice if any?
Based upon the following facts of Fred, Inc., calculate adjusted current earnings (ACE):
An accounting firm, provides consulting and tax planning services. A recent analysis found that 55% of the firm's billable hours to clients resulted from tax planning and for many years, the firm's total administrative cost (currently $270,000) ha..
How would applying a flat tax decrease errors, when the progressive tax rates is just a simple formula? How would you measure gross income? Do you think that deductions should be eliminated? Which ones and why?
determine the number of periods and the rate per period for each of the followingrate compounded years no. of periods
The chart below describes the § 1231 assets sold by the Tan Company (a sole proprietorship) this year. Compute the gain or loss from each asset disposition and determine the net § 1231 gain treated as long-term capital gain for the year. Assume th..
How would your answer to Part a. change, if at all, if the FMV of the gift property was $85,000 as of the date of the gift.
write down a 350- to 700-word essay comparing the similarities and differences between virtue theory utilitarianism and
general chemical produced 10000 gallons of greon and 20000 gallons of baron. joint costs incurred in producing the two
During the past year a company had total fixed costs of $70,000. Its product sold for $9 per unit. Variable costs during this time equaled $5 per unit.
Jose wants to cash in his winning lottery ticket. He can either receive five, $5,000 semiannual payments starting today, or he can receive a lump-sum payment now based on a 6% annual interest rate. What would be the lump-sum payment?
A company with a break-even point at $900,000 in sales revenue and had fixed costs of $225,000. When actual sales were $1,000,000 variable costs were $750,000. Determine (a) the margin of safety expressed in dollars, (b) the margin of safety expre..
Analysts often take a short cut in estimating a firm's cash from operations: they just add depreciation back to net income. What is the greatest shortcoming of this approach?
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