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Prompt: Consider that a company is a nonprofit entity and a governmental entity. Discuss the reporting requirements for each and how they differ from a for-profit entity.
A. Explain how you would address compliance with GAS in nonprofit and governmental financial statements.
B. Explain how the analysis of nonprofit and governmental financial statements differs from analysis of traditional financial statements. Provide examples to support your response.
C. Compose example financial statements for your company as a nonprofit entity and as a governmental entity. Ensure all information is entered accurately and the statements are compliant with GAS.
question a testing lab owns a hydraulic load frame which was purchased for 35000 untimely in the labs fiscal year 4
Which of the following is accounted for as a change in accounting principle?
Compute for the proposed capital investment the Payback period under the assumption that cash inflows occur evenly throughout the year.
Prepare the bank reconciliation for this company as of April 30 and prepare the journal entries necessary to bring the company's book balance of cash into conformity with the reconciled cash balance as of April 30.
The income tax rate for that year was 26%. Bodily had an unused $110,000 net operating loss carryforward from 2009 when the tax rate was 33%. Bodily's income tax payable for 2011 would be?
Cardinal also had a general business credit carryover of 25k. Parent Wren Corporation acquired all the stock of Cardinal seven years ago for 390k. What basis will (parent) Wren Corporation have in the marketable securities and unimproved land it ..
The company's accountant is preparing the purchases budget for the first quarter operations. Metro maintains ending inventory at 20%
Provide an example of a difference between for-profit and not-for-profit organization financial reports. Explain how these differences affect the comparability of financial reports.
What was the balance of total current liabilities for the three most recent years of your research? Did this balance trend upward or downward from one year to the next? What account or accounts experienced the largest change?
Prepare journal entries to record the issuance of bonds on Jan. 1, 2011; (b) the first interest payment on June 30, 2011; and the second interest payment on Dec. 31, 2011.
Smokey Sims is 60 years old and has been asked to accept early retirement from his company. Which alternative should Smokey choose assuming that he is able to invest funds at a 6% rate?
your ceo read a recent report on the importance of the sox act but he acknowledged that he does not know much about it.
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