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A 10-year loan agreement which the company entered into 3 years ago, provides that dividend payments may not exceed net income earned after taxes subsequent to the date of the agreement. The balance of retained earnings at the date of the loan agreement was $420,000. From that date through December 31, 2011, net income after taxes has totaled $570,000 and cash dividends have totaled $320,000. On the basis of these data, the staff auditor assigned to this review concluded that there was no retained earnings restriction at December 31, 2011.
We are to discuss any additional disclosures in the financial statements and notes that the auditor should recommend to the client.
Can you provide some direction on how to do this or give an example?
Find one dilemma in finance will assist financial managers to overcome and state exactly how managers will resolve it.
Explain how would Allgreens compare with the industry if it oper-ates in the same industry as Dayco and if the industry average ratios remain the same over time?
Preparation of operating budget of hospital by combining revenue and expense budget - Combine the revenue (Section A) and expense budgets to present an operating budget for the coming year.
For product or service that your employer provides to market, discuss in detail whether you believe the demand for that product or service is relatively elastic or relatively inelastic.
An shareholder can design a risky portfolio based on two (2) stocks, stock A and stock B. Stock A has an expected return of 21 percent and a standard deviation of return of 39 percent.
Bond issue and Bond retirement Journal entries, Bond amortization Schedule using effective interest method - Purpose the journal entry to record the issuance of the bonds and the related bond issue costs incurred on January 1, 2005.
There is a common phrase in business: cash is king. Cash flow is the life-blood of a company. Without it, a corporation will fail". Yet, firms often have to take risks that could potentially jeopardize their cash flow.
You are planning to buy of new car. You have negotiated with the salesperson at dealership & you can buy the vehicle for $30,000.
Determination of net income under the alternatives - Determine the net income be under this alternative?
What amount of gain has Patriot received from this transaction and is this a capital or ordinary gain and how much tax must Patriot pay on this transaction
Jake Marley is negotiating with bank for a $200,000, 90-day 12 percent loan effective July 1 of the current year. If the bank accept the loan, the proceeds will be $194,000,
Calculate an expense budget on an accrual basis for the coming year. The expense budget does not require detailed information by program or department, but should show each type of expense such as salaries and supplies. Be sure to consider the impact..
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