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Which of the following is not considered "constructive receipt" income in 2010:
a. Andrew Mason was informed that his check for services rendered was available on Dec 15 2010 but he waited until Jan 16, 2011 to pick up the check.
b. A payment on a sale of real property placed in escrow on Dec 16 2010 but not received by Mr. Miles until January 12 2011 when the transaction was closed.
c. Earned income of Candic was received by her agent on Dec 30 2010 but was not received by her until Jan 5 2011.
d. Dryer received a check on Dec 30 2010 for service rendered but was unable to make a deposit until Jan 5 2011.
e. Ellen received stock on Dec 30 2010 for services rendered but was unable to find a buyer for the stock until Jan 20 2011.
How much higher (or lower) would the company's first-year net income have been if absorption costing had been used rather than variable costing? Show computations.
Create an REA diagram of data model for Fred's Train Shop's expenditure cycle related to acquisition of office equipment and other fixed assets. Assume that Fred makes installment payments for most fixed-asset acquisitions, but occasionally pays f..
In your own words, explain what the advantage is of analyzing a company's financial statements over a series of years rather than just for the current period?
Prepare the necessary journal entry to close the overhead account if the balance is considered immaterial.
Dabney's salary is $35,000 while Nancy's salary is $40,000 and they have interest income of $3,000. During the year, they spend $9,000 for child care expenses that are required so both of them can work outside of the home. Calculate the credit f..
The introductory section of a CAFR typically includes all of the following except
Some of the business practices portrayed in the film Inside Job would be criticised by both John Rawls and Robert Nozick. Identify and describe some of these problematic practices in Inside Job and then.
Betty's Bunny Barn has experienced a $40,000 loss due to tornado damage to their inventory. Tornados have never before occurred in this area. Assuming that the company's tax rate is 30%, what amount will be reported for this loss on the income sta..
Using a weighted moving average with weights of 0.60, 0.30, and 0.10, find the July forecast. Using a simple three-month moving average, find the July forecast.
What are some examples of direct and indirect inventoriable costs for Dell? Why has Dell's gross margin (in dollars) steadily increased from 2003 to 2005, yet the gross margin as a percent of net revenue has only increased slightly?
What other factor might influence the risk of material misstatement in the expenditure cycle?
What is the amount and initial character of the gain or loss from disposition of the real estate? Is any of the gain unrecaptured § 1250 (25%) gain?
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