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1) When can information about two operating segments be aggregated?
2) How is accounting for pensions different than accounting for other post-retirement benefits?
3) The controller of a public company commented that if the company needs to disclose the company's segments individually, the only people who will gain are the competitors and the only people that will lose are the present investors. Do you agree or disagree with this statement?
Income statement, Little Books Inc. recently reported $3 million of net income. Its EBIT was $6 million, and its tax rate was 40 percent.
An employee received a paycheck from her employer in the amount of $776.35. The pay-check stub indicated that in calculating her $776.35 net pay, $139.75 had been withheld for federal income tax, $34.25 for state income tax, and $74. 65 for FICA. ..
A rowdy spring break guest damages a jukebox that had been purchased in 1995 for $800. The jukebox had a useful of ten years, with an estimated salvage value of $75. The company decided to scrap the jukebox after the incident.
Assume that a company purchases land for $1,000,000, paying $400,000 in cash and borrowing the remainder with a long-term notes payable. How should this transaction be reported on a statement of cash flows?
Angela Moss and Autumn Barber organize a partnership on January 1. Moss's intial net investment is 75,000 consisting of cash 17,500, equipment 82,500 and note payable reflecting a bank loan for a new business 25,000. Barber's initial investment is..
Determine the eliminating entries necessary for the 20X9 consolidated financial statements. Provide correct eliminating entries necessary for the 20X9 consolidated financial statements.
Jimmy owns a trucking business. During the current year he incurred the following:
John has $55,000 net earnings from the sole proprietorship. John is also employed by a major corporation and is paid $25,000. John' self-employment tax in 2013 is:
William County opted to account for its duplication service center in the internal service fund. Previously the center had been accounted for in county's general fund. During first month in which it was accounted for as an internal service fund cent..
The role and process of recognising depreciation in accounting reports, and by identifying accounting concepts which provide the justification for recognising depreciation.
Finch Corp. sells portable air filtration systems by means of internet and direct mail orders. Most of the components are purchased from foreign suppliers at a cost of $1,600-What is Finch's DPGR per unit? It's QPAI? How could this result have been..
Generally Accepted Accounting Principles (GAAP) is based on accrual accounting. Define and describe accrual accounting and provide examples
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