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Kelly: I've been thinking about our method of recording entries. It seems that it's inefficient.
Marc: In what way?
Kelly: Well-correct me if I'm wrong-it seems like we have unnecessary steps in the process. We could easily develop a trial balance by posting our transactions directly into the ledger and bypassing the journal altogether. In this way we could combine the recording and posting process into one step and save ourselves a lot of time. What do you think?
Marc: We need to have a talk.
What should Marc say to Kelly?
Does a mobile home owned by a client qualify as real property or personal property for each state? What difference to the client would it be if it were classified as either?
Consolidated financial statements tend to be most useful for: A) Creditors of a consolidated subsidiary. B) Investors and long-term creditors of the parent company.
Does it appear that the new controller has been effective in managing cash?
Madison Company issues $5,000,000 face value, 12%, 5-year bonds payable on December 31, 2005. Interest is paid semiannually each June 30 and December 31. The bonds sell at a price of 97; Madison uses the straight-linemethod of amortizing bond disc..
Which of the following items would not be reported in the section on revenues and gains in the statement of activities of a private college or university?
Reported ticket Revenue was $2, 200,000. Is the difference between your estimate and reported ticket revenue large enough to prompt further consideration? Why or why not?
It is estimated that 80% of the coupons will be presented for redemption. Sales for the first period were $700,000, and the coupons redeemed totaled 340,000.
John has been offered a job in New York City at a salary of $50,000 per year. Currently, John lives and works in the Midwest at a salary of $35,000 per year.
Suppose instead that SSC has just made a $50 million distribution in the form of a stock repurchase. Now what is SSC's intrinsic value of equity? How many shares did SSC repurchase? How many shares remained outstanding after the repurchase? What i..
The process by which accounting standards has evolved over time worldwide differs significantly from country to country based on many factors.
Prepare the journal entries on the lessee's books to reflect the signing of the lease agreement and to record the payments and expenses related to this lease for the years 2011 ans 2012. kimberly-clark's corporate year end is december 31. Show all..
Using Excel show all formulas for following: Firm has current assets of 100 million and current liabilities of 50 million and goes belly-up.
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