Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
You are the Controller of ABC Manufacturing Corp, a publicly traded furniture manufacturing company, based on Long Island. Business has been going well for ABC. Over the last four quarters the EPS have been 50, 54, 59, and 60 cents per share. It is nearing the end of the quarter and most of the analysts that are following your stock are projecting an EPS for the current quarter of 69 cents per share, which looks right in line with what you are projecting for the quarter.
However, just as you are going over the quarter to date figures, four new items are brought to your attention:
Problem 1: In each case, what additional information might you seek? What would US GAAP require you to report or disclose in your quarterly 10Q? How would the above events be reflected in your quarterly income statement? What alternatives would be available to you to appropriately adjust earnings?
If sales for the current year were $475,000 and accounts receivable increased by $39,000 during the year, what was the amount of cash received from customers? If income tax for the current year was $39,000 and income tax payable decreased by $11,000 ..
The Mixing Department manager of Malone Company is able to control all overhead costs except rent, property taxes, and salaries. Budgeted monthly overhead costs for the Mixing Department, in alphabetical order, are: Prepare a responsibility report fo..
Lee offered for sale $10,000 a machine that has been purchased for $17,500. If Whitney paid Lee $6,000 for the machine, the amount that Whitney would record in the accounting records for the machine is what?
The following schedule indicates selected amounts from a city's preclosing 2018 and post closing 2017 general fund trial balances: 2018 2017. Assume the the city uses consumption method to account for supplies. Assume instead that the city uses the p..
Elaborate and expand on previous comments from others; Present explanations of concepts or methods to help fellow students;
On March 20, 20X1, DepCo purchases for $9,000 a printer that it expects to last for 5 years and to have a residual value of $2,000.
Asper Company has sales on account and cash. Speccially, 70 % of its sales are on account and 30% are for cash. credit sales are collected in full in the month following the sale. the company forescast sales of $525.000 for april, $535.000 for may, a..
A fitness center receives a total of $22,000 for new membership fees. The memberships are activated the next fiscal year. Answer from the fitness center's standpoint.
Illustrate what amount of gain or loss does Michelle recognize in the complete liquidation and what is her tax basis in the building and land after the complete liquidation?
List the steps of the accounting cycle and why is this important to the accounting profession?
The STC Supply manufactures memory cards that sell to wholesalers for $4.00 each. Variable and fixed costs are as follows: Variable Costs per card: Fixed Costs per Month: Manufacturing Direct materials $0.60 Direct labor 0.50 Factory overhead 0.50 $1..
Prepare, the projected budget or cash flow for the next 4 years and prepare a detailed report with sufficient arguments to determine
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd