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Submit your responses to the following questions in a 1-2 page summary MSWord document. Label each question clearly. For written answers.
How does the modified accrual basis of accounting differ from the accrual basis?
What are the three sections of a comprehensive annual financial report (CAFR)? What information is contained in each section? How do the minimum requirements for general purpose external financial reporting related in scope to the CAFR?
Determine the rate and efficiency variances for the variable overhead item power cost and indicate whether those variances are unfavourable or favourable.
5% on the first day of the current fiscal year, 1,500,000 of 10-year, 8% bonds, with interest payable semiannually, were sold for 1,225,000, Present entries to record the following transactions for the current fiscal year:
For 2010, stoneland corporation reported net income, 24,000; net sales 400,000; and average shares outstanding, 6,000. there werte no preferred stock dividends. What was the 2010 earnings per share?
If joe and Jill choose to accelerate 50,000 of additional income into the current year, how much will their (a) regular tax and (b) tentative minimum tax increase? Joe and Jill's marginal tax rate is 35%.
What are examples of irregular items? How does a change in accounting principles affect the financial statements? Who in the company is responsible for the application of a change in an accounting principle? Why?
the standard cost sheet includes all of the following exceptthe standard quantity per unit.the standard material costs
What is the cash flow from investing activities?
What gain or loss is recognized by the corporation when it issues its shares to Kyle? What is the basis to the corporation of the property it received from Kyle?
At 12/31/12, the end of Jenner Company's first year of business, inventory was $4,100 and $2,800 at cost and market, respectively. Following is data relative to the 12/31/13 inventory of Jenner.
Leon Tyler's VISA balance is $793.15. He may pay it off in 12 equal end-of-month payments of $75 each. What interest rate is Leon paying?
According to a summary of teh payroll of Matrix Publishing Co., $380,000 was subject to the 7.5% FICA tax. Also $16,000 was subject to state and federal unemployment taxes.
All of it pertains to an output level of 7 million units. Using this information, find the break-even point in units of output for the firm.
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