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Exercise
How would each of the following items be reported on the balance sheet?
(A) accrued vacation pay. Current Liability.(B) estimated taxes payable Current Liability.(c) service warranties on appliance sales Current Liability or Long term depending on the terms.(d) bank overdraft Current Liability.(e) employee payroll deductions unremitted. Current Liability.(f) unpaid bonus to officers Current Liability.(g) deposit received from customer to guarantee performance of contract. Current Liability or Long term.(H) sales taxes payable current Liability.(I) gift certificates sold to customers but not yet redeemed. Current Liability.(J) premium offers outstanding Current Liability.(K) discount on notes payable Contra account to notes payable.(L) Personal injury claim pending Footnote.(M) Current maturities of long-term debts to be paid from current assets. Current Liability.(N) cash dividends declared but unpaid. Current Liability.(o) dividends in arrears on preferred stock. Footnote.(p) loans from officers Current Liability or long term liability.
How much higher (or lower) would the company's first-year net income have been if absorption costing had been used rather than variable costing? Show computations.
komiko tanaka invests 12000 in lymabean inc. lymabean does not pay any dividends. komiko projects that her investment
As a guide, describe the computation of a fiduciary entity's accounting income, taxable income, and distributable net income.
1. what are examples of irregular items?2. how does a change in accounting principles affect the financial
A hardware retailer has average sales of $64,235 with a standard deviation of $5,918 for a 12-month period. The mean monthly sales for all retailers in the chain are $59,844. Is this hardware retailer's sales significantly different from all retai..
Describe how a business you have worked for was organized
How could a tax cut achieve the same result? Would the tax cut have to be larger than the increase in government purchases? Why or why not?
four flags is a retail department store. on january 1 2012 four flags accountants used the following data to develop
gammell issued 50000 bonds payable 9 annual interest maturity in ten years. the bonds were issued at 52000. gammell
Discuss the impotance of periodic reporting and the time period principle
caruba company issued 300000 6 20-year bonds on january 1 2012 at 103. interest is payable semiannually on july 1 and
Map the company's balance sheet and income statement that appear in the attached spreadsheet. Use the link to the 2012 US GAAP Financial Reporting Taxonomy to view the taxonomy and retrieve the information you need to complete the mapping spreadsh..
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