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Create a chart of accounts for a small business. If you are currently working in the accounting field, you may use the chart of accounts from your business as the basis of your work. Include your explanation of the structure.
Analyze and describe how you would change it to facilitate efficiency.
A pension asset is reported when: a. the accumulated benefit obligation exceeds the fair value of pension plan assets. b. the accumulated benefit obligation exceeds the fair value of pension plan assets, but a prior service cost exists.
Assume that the company computes variances at the earliest point in time. Taylor's direct-material price variance was:
What potential conflicts can you see and how could Bill & Mary remedy the situation?
Ramsey Company typically sells subscriptions on an annual basis, and publishes six times a year. The magazine sells 60,000 subscriptions in January at $10 each. What entry is made in January to record the sale of the subscriptions?
Soap Corporation issued a $350,000, 6% 15-year mortgage note to obtain needed financing for new office. The terms of the note call for semiannual payments of $17,857 each. Prepare the entries to record the mortgage loan and the first installment.
It is necessary for the auditor to understand the client's business. Why is that the case? How does classifying the client into a safe or risky client affect the audit?
Lance Brothers Enterprises acquired $750,000 of 1% bonds, dated July 1, on July 1, 2011, as a long-term investment. Management has the positive intent and ability to hold the bonds until maturity.
First assume that all of the deferred money and accumulated interest is paid out along with the final salary payment at the end of 2012. Use 5.5% as the discount rate. What is the present value (as of the signing date) of Ichiro's contract under t..
Beginning inventory for September is expected to be $4,000 suits. What is the dollar amount of purchase of suits? Each suit has a cost of $75.
Rent income should be shown on the income statement : a. Pretax as part of income from continuing operations before tax. b. net of tax as part of income from continuing operations before tax
For a leased asset under a lease that qualifies as a capital lease, the depreciation period used by the lessee must be:
While preparing the bank reconciliation, you notice that a check, written by the company for $750, has been outstanding for 5 months. What is the best action for you to take?
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