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Question 1. At year end 2019, the company thought the water bill would be $500 but in Jan 2020, the company received bill showing $600. Since 2019 accounts have been published, is it late to correct the $100?
Question 2. A company's legal advisors seem to think XYZ will eventually receive $2m from the first case but will have to payout $1.5m to the plaintiffs in the 2nd case
Question 3. A company buys machine for $90 (Expected life 4years with $10 scrap value). Beginning of yr3, market value of machine is $30. How would you record this under IFRS and USGAAP.
Provide two examples that demonstrate a change in your theories of financial accounting for managers since the beginning of this course.
Mostert Music Company had the following transactions in March: Based on the information above, prepare a cash basis and an accrual basis income statement.
At December 31, 2004, the balance in the investment account should be $810,000. Illustrate what formula/steps do I take to get $810,000?
Does Disney use the direct method or the indirect method? Explain. Analyze Disney's overall cash flow picture for 2009, 2010, 2011 in light of the positive or negative cash flow patterns for the three categories of cash flows. In the notes to Disney'..
(Purchase Commitments) At December 31, 2014, Indigo Girls Company has outstanding noncancelable purchase commitments for 36,000 gallons, at $3.00 per gallon, of raw material to be used in its manufacturing process. The company prices its raw material..
Your firm has been engaged to examine the financial statements of Almaden Corporation for the year 2014. The bookkeeper who maintains the financial records has prepared all the unaudited financial statements for the corporation since its organization..
texark inc. a calendar year taxpayer reported 5210300 total income before tax on its financial statements prepared in
Develop a thorough understanding of accounting standards and principles and fulfill the core accounting educational requirement to sit for the CPA exam.
What is project NPV in the best-case scenario, that is, assuming all variables take on the best possible value? What is project NPV in worst-case scenario
In January of 2013, SLU of Tampa created a simple trust. This simple trust received interest income in an amount of $4,500 on October 6th of 2016. According to the IRS, this interest income qualified as tax exempt. SLU of Tampa invested $100,000 in l..
Based on your calculations of current ratio and total-asset turnover ratio, what would you recommend we do to improve our asset management
Compute the amount of net income or net loss that Blue should report for 2018, taking into consideration Blue's security transactions for 2018.
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