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Can anyone help me to create a flowchart for this? "Company maintains a perpetual inventory system. Clerks in the accounting department post the data manually from receiving reports, material requisition forms, copies of purchase orders, and other transactions, such as returns and adjustments to the inventory records. The source documents are filed by posting date. The inventory records are analyzed after each posting to determine if the item should be reordered. If an item needs to be reordered, a purchase requisition (one copy) is prepared and sent to the purchasing department. There, clerks select a vendor from a master vendor file, prepare a purchase order (four copies). And update the vendor files to reflect the order. The purchase order is approved and distributed as follows: original copy to the vendor; copy 2 is filed numerically with the corresponding purchase requisition attached; copy 3 is forwarded to the receiving department; copy 4 is sent to the accounting department. "
The partnership made an ordinary cash distribution of $10,000 to Marcie, and paid guaranteed payments to partners Marcie, Alice, and Pat of $20,000 each ($60,000 total). How much will Marcie's adjusted gross income increase as a result of the abov..
Interest is paid semiannually on December 1 and June 1 and the bonds mature on December 1, 2014. Menke uses straight-line amortization. Ignoring income taxes, the amount reported in Menke's 2010 income statement from this investment should be?
At December 31,2010 the fair value of the Carlin, Inc. bonds was $318,000. What should Richman Co. report as other comprehensive income and as a separate component of stockholders' equity?
Determine each year's absorption costing net operating income. In year 4 the company's variable costing net operating incomewas $240.200.
Determine the present value of the lease payments at June 30, 2009 (to the nearest $000) that Blue uses to record the leased asset and lease liability.
An auditor noted that client sales increased 10 percent for the year. At the same time, Cost of Goods Sold as a percentage of sales had decreased from 45 percent to 40 percent and year-end accounts receivable.
Mary (age 33) is a single taxpayer with adjusted gross income for 2009 of $21,040. Mary maintains a home for two dependent children and has itemized deductions of $3,000. Calculate the following amounts for Mary's 2009 income tax return:
Explain the accounting alternatives that Bonanza Trading Stamps, Inc. should consider for the recognition of its revenues and related expenses.
Explain in detail a post-closing trial balance, how it relates to the practice of accounting and its uses in business?
Which one of the following will increase the operating cycle?
A company purchased an aircraft for $400,000 and leased it for 20 years. If the company wants to earn an annual return of 10% what will be the annual rental.
Wecker Company's year-end unadjusted trial balance shows accounts receivable of $89,000, allowance for doubtful accounts of $500 (credit), and sales of $270,000. Uncollectibles are estimated to be 1.5% of accounts receivable. a) Prepare the Decemb..
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