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Bob operates a catering service on the accrual method. In November of year 1 Bob received a payment of $9,000 for 18 months of catering services to be rendered from December 1" of year 1 through May 31" year 3. When must Bob recognize the income if his accounting methods are selected to minimize income recognition?
What are the advantages of the EFTPS? How is self-employment income treated differently than income earned when you work for an employer? How do you report self-employment income?
a corporation has only common stock outstanding,constitutes legal capital at a particular date
Theory question based on revenue recognition - What factors does the standard discuss that may impair the ability to make a reasonable estimate of returns?
List and discuss the Rights of common stockholders and Rights of preferred stockholders. Rockwell Industries purchased a plant asset to be used in its business. The expenditures included.
Galante Kennel uses tenant days as its measure of activity an animal housed in the kennel for one day is counted as one tenant day
During March, Manhattan Fabrics Cooperation manufactured 1,000 units of a special multilayer fabric with the trade name Stylex. The following information from the Stylex peoduction department also pertains to March. Compute the following variances fo..
Consigned goods are recognized as revenues by the
On January 1, Talent Company purchased as a short-term investment a $1,000, 8% bond for $1,050. The bond pays interest on January 1 and July 1. The bond is sold on October 1 for $1,200 plus accrued interest. Interest has not been accrued since the la..
Did the accountant record the transaction correctly? Why would the Board of Directors want to show the gain? Are there any ethical issues involved? Illustrate what is the correct journal entry for the sale of the stock?
Under U.S. GAAP, which of the following would be included in accumulated other comprehensive income as a component of stockholders' equity on the balance sheet? Regarding a company's reporting of assets on the balance sheet, which of the following st..
The group of key personnel has an important impact on an organization. Some companies carry director and officers liability insurance. Are these policies expensive? Why are they necessary?
Please provide your estimate of the amount of any receivable due from the IRS arising from the loss in 2014 and the amount of a.
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