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Based upon the material covered from the readings and/or videos from Week 1, highlight the three most important concepts you learned this week and how each of these concepts will help you in appreciating the power of AIS. Be sure to include examples with your postings. NOTE: You should first identify the concepts that you learned and then describe how they increased your appreciation and understanding of AIS.
Roxanne Carter Corporation reported the following for 2014: net sales $1,207,300; cost of goods sold $725,300; selling and administrative expenses $331,300; and an unrealized holding gain on available-for-sale securities $23,200. Prepare a statement ..
On January 1, 2016, Cobbler Corporation awarded restricted stock units (RSUs) representing 30 million of its $1 par common shares to key personnel, subject to forfeiture if employment is terminated within three years. Determine the total compensation..
Prepare any journal entries (if necessary) that would be required related to the Note Receivable at end of 2009, 2010, 2011, and 2012. Assume that $100,000 is received from ColdPlay Co. on 12/31/2013. Prepare all necessary journal entries for 2013.
Markowis Corporation sells three different models of mosquito zapper. Model A12 sells for $59 and has variable costs of $43. Model B22 sells for $103 and has variable costs of $75. Model C124 sells for $402 and has variable costs of $311. The sales m..
Janice received $60,000 compensation from her employer, the value of her stock in ABC company appreciated by $5,000 during the year (but she did not sell any of the stock), and she received $30,000 of life insurance proceeds from the death of her hus..
Determine the taxable amount of social security benefits for the following situations. Erwin and Eleanor are married and file a joint tax return. They have adjusted gross income of $39,600, no tax-exempt interest, and $13,860 of Social Security benef..
costs must be included in inventory of a manufacturing company
Auditor Independence Utilize the AICPA website to respond, however to respond to this case, please consult not only auditing standards (AU-C), but also the AICPA’s revised Code of Conduct. What guidance tells Tim that he must be independent of Lava C..
Mars Chemicals Company uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balance? sheet: Mars Chemicals Company Comparative Balance Sheet December? 31, 2017 and 2016 2016 2015 ?Increase..
The taxpayer has consistently, but incorrectly, used an allowance for bad debts. At the beginning of the year, the balance in the allowance account is $90,000
Question 4. Question : The accounting equation is the basis for analyzing, summarizing, and recording transactions in accounting. The accounting equation is:
Determine the cost equations for factory overhead, advertising expense, salary & commissions, bad debt expense, sales discount, and purchasing expense by using a simple or multiple regression model and the data presented in appendices C &D.
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