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Dec 29 Susquehanna equipment rentals was named, along with mission land scaping and collier construction ,as a co defendant in 25000 law suit filed on behalf of kevin davenport. Mission landscaping hadleft the rented backhoe in a fenced construction site owned bycolllier construction. After working hours on december 26, Daven porthad climbed the fence to play on parked construction equipment. While playing on the backhoe , he fell and broke his arms. The extent of the company legal and financial responsibility for this accident, if any, cannot be determined at this time. (Note: this event does not required a journal entrty at this time , butmay require disclosue in notes accompanying the statment).
Rockland Corporation earned net income of $389,700 in 2010 and had 100,000 shares of common stock outstanding throughout the year. Also outstanding all year was $1,039,200 of 10% bonds, which are convertible into 20,784 shares of common. Rockland'..
What is the difference between notes payable and notes receivable?
Which of the following is not an important consideration for senior management of an entity in fulfilling governance responsibilities?
In AT&Ts 2000 annual report, the company reported long-term deferred tax assets of $4,523,000,000 and current deferred tax assets of $1,791,000,000. What might contribute to AT&Ts need to record a valuation allowance?
Which item LEAST resembles an interest free loan from the U.S. government?
Ajax, Inc. is an affiliate of the audit client and is audited by another firm of auditors. Which of the following is most likely to be used by the auditor of the client to obtain assurance that all guarantees of the affiliate's indebtedness have b..
FASB has special rules for reporting on private health care organizations. And of course, if the health care organization is associated with government (as an SPE), then GASB rules. What are the similarities and differences in the accounting pract..
The lower-of-cost-or-market concept is used in the valuation of inventory. Describe this concept. How does this concept affect your company's profitability, or the profitability of a company with which you are familiar?
Provide a brief definition of compilation and review performed in accordance with the SSARS. Include the type of assurance provided.
The county will then make yearly lease payments to repay the obligation. Unlike conventional municipal bonds, the lease payments are not binding obligations on the county and, therefore, require no voter approval. Doyou think the actions of the po..
Prepare an income statement and a supporting schedule of cost of goods manufactured for the year ended December 31, 2009.
Tom sells a business machine which he was owned for four years for $27,000. Tom purchased the machine for $42,000 and taken $18,000 in depreciation. How much and what type of gain will result from this sale?
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