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Lea Mediators, a not for profit religious organization suffered damages when a storm broke glass windows in Lea's building. A member of Lea's congregation, a professional glazier, replaced the windows at no charge. In Lea's statement of activities, the breakage and replacement of the windows should:
a) not be reported
b) be reported by note disclosure only
c) be reported as an increase in both expenses and contributions
d) be reported as an increase in both net assets and contributions
Sydney Corporation, an Australian-based multinational, borrowed 10,000,000 euros from a German lender at the beginning of calendar year when exchange rate was EUR.60 = AUD1.
Summary balance sheet data for Greener Gardens Co. is shown below (in thousands of dollars). The company is in a highly seasonal business, and the data show its assets and liabilities at peak and off-peak seasons:
Provide and show all answers and step by step work to obtain the answer, not skipping any steps. Show all equations, acronyms (ie ETC, ACWP, etc), and if applicable, a description of how you came to the answer.
Find two annual reports from competing publicly traded companies of your choice. Prepare an overview of the two companies including a brief synopsis of the industry the companies are in, the market share each company holds, and the length of time ..
A company previously issued $2,000,000, 10% bonds, receiving a $120,000 premium. On the current year's interest date, after the bond interest was paid and after 40% of the total premium had been amortized, the company purchased the entire bond iss..
Describe the direct and indirect technique in quoting foreign currencies. Provide some examples.
Oates Company's payroll for the week ending January 15 amounted to $50,000 for Office Salaries and $100,000 for Store Wages. None of the employees has reached the earnings limits specified for federal or state employer payroll taxes. The following..
Perform an Internet search using the term break-even analysis. Select and read a case study or article from the results of your search. Summarize the case study or article.
What should be the reported net asset balance of the following categories during 2011: permanent restricted, temporarily restricted, unrestricted.
Please help me explain the following concepts: A conclusion stating how you think sound financial reporting depends on principles, assumptions, and constraints. Refer to the U.S. GAAP in your response.
Compute a common-size analysis in Excel and discuss the differences between the two corporations.
Which of the following is a requirement of the Sarbanes-Oxley Act?
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