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An accountant is confirming an AR balance as of year end. The invoice was for 2020 and was over 900k. $300k of the balance was paid during 2021 and 100k was paid during 2022: the remaining is left unpaid
Advise what the auditor should do if portion of the balance was paid in 2021 And there is an outstanding amount which has not been paid. this is medical services and they are having problems getting the entire balance paid accordingly.
Should an adjustment be made? If so what adjustment. What accounts would be adjusted based on this: example debit x account and credit y account.
Calculate the deferred tax account balance as at December 31, 20X7, the current tax expense for the year ended December 31, 20X7
The risk free rate of return is 10% p.a. and the risk premium required for the project is 5% pen. The market return is 15% pa. What must be beta of this project
Your company's summarized financial information for the beginning and projected end of the current year is as follows: Beginning of the Year End of the Year (projected) Assets $90,000 $100,000 Liabilities 30,000 30,000 Equity 60,000 70,000 Net Income..
On March 1, 2014, Pechstein Construction Company contracted to construct a factory building for Fabrik Manufacturing Inc. for a total contract price of $8,118,000. The building was completed by October 31, 2016. Using the percentage-of-completion met..
What are the fixed costs of hamburger production? (Do not round intermediate calculations. Enter your answer in millions rounded to 3 decimal places.)
List of four a standard risk response choice the organization could take to manage this specific risk for each response choice
If Apex, Inc. has an ROE = 10 percent, equity multiplier = 3, and profit margin of 5 percent, what is the total asset turnover ratio?
On January 1, 20x7, Porter Inc. entered into a 3-year construction contract for $3075916. How much profit should Porter Inc recognize
If the home office maintains accounts in its general ledger for a branch's plant assets, the branch debits the acquisition of office equipment to
What would Mickey recorded on the date of sale? Mickey sells high end commercial and home appliances as well as offering a number of services
Do you suffer from the "overconfidence" syndrome? If so, under what circumstances? Identify at least one bias that impacts your decision making process.
What is the break-even (provide a number) for Molson Canadian 67 Sublime? Explain the breakeven. Reference your text for the BE formula.
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