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Compute trend percents for the following financial items, using 2007 as the base year.
2011 2010 2009 2008 2007
Sales $282,700 $270,700 $252,500 $234,460 $150,000
Cost of goods sold 128,100 121,980 115,180 106,340 67,000
Accounts receivable 18,000 17,200 16,300 15,100 9,000
Collins Landscape Company purchased various landscaping supplies on account to be used for landscape designs for their customers. How will this business transaction affect the accounting equation?
objective questions: Kovacic Company purchased a computer that cost $10,000. It had an estimated useful life of five years and residual value of $0. The computer was depreciated by the straight-line method and was sold at the end of the fourth year o..
Prepare summary entries on the books of the consignor for these consignment sales transactions. Prepare summary entries on the books of the dealer consignee, assuming there is only one dealer involved. Prepare the parts of Tingey Industries' financia..
(1) inventory with a basis of $15,000 and a fair market value of $13,000, and (2) land with a basis of 5000 and fair market value of $20,000. What are Amy's bases in the land and her partnership interest after distribution?
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..
How does a parent company account for a subsidiary organization in the years that follow the creation of a business combination?
If a division is evaluated using return on investment (ROI) without regard to how assets are financed, the denminator in the ROI calculation will be
Gross proceeds from the offering amounted to $850,000,000. The discount on the Senior Discount Notes is being accreted under the effective interest method.
Johntech accounted for the lease as a capital lease and recorded an asset and a liability in the financial records. The asset recorded under this lease should properly be amortized over:
Auditors must be concerned with both generally accepted auditing standards and generally accepted accounting principles in performing an audit.
Foam Pet Mattress Company can sell as many pet bed models A and B that it can produce, but the company has limited production capacity. It can produce two units of A or three units of B per hour and it has 4,000 production hours available.
Proposals L and K each cost $500,000, have 6-year lives, and have expected total cash flows of $720,000. Proposal L is expected to provide equal annual net cash flows of $120,000, while the net cash flows for Proposal K are as follows:
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