Reference no: EM131292126
Based on your understanding of the information presented in the case, how did Enron’s Chewco SPE fail to meet the outside equity requirement for nonconsolidation? Did Enron meet the control requirement for non- consolidation?
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Allocate the fixed costs to the three divisions
: Nairobi shopping mall gives the following data: Hotel Restaurant Shopping Centre Revenues 8,000,000 3,000,000 6,000,000 Direct costs 4,500,000 1,500,000 2,000,000 Floor space (square feet) 40,000 8,000 32,000 Number of employees 200 50 250 Total fixe..
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How is expense best treated on his current year tax return
: During the current year Clifton, a corporate CEO, took a two-week seminar at the National Strategy Association on strategic planning in order to improve his strategic planning skills. The tuition and fees totaled $14,000, which he paid out-of-pocket ..
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Deducted on his tax return for the current year
: Fastow, a corporate executive, incurred and paid the following business-related unreimbursed expenses in the current year: Assuming that Fastow does not itemize deductions, how much of these expenses can be deducted on his tax return for the current ..
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Total sales and total cost of merchandise sold for period
: The beginning inventory of Merchandise at Waldo Co. and data on purchases and sales for a three-month period are as follows: Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustr..
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Outside equity requirement for nonconsolidation
: Based on your understanding of the information presented in the case, how did Enron’s Chewco SPE fail to meet the outside equity requirement for nonconsolidation? Did Enron meet the control requirement for non- consolidation?
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Why is it important to hire accountants
: Why is it important to hire accountants that understand the unique needs of a healthcare organization. If there is an increase in accounts receivable from one accounting period to the next, what affect would this have on the cash flow activities? Ali..
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The owner of a small family-owned business prepares
: The owner of a small family-owned business prepares his own payroll, but rapid expansion is making demands for his time in other areas. He hires you to design payroll procedures with the proper internal controls that a small payroll department can ha..
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Journal entry to record the bonds issuance
: Heathrow issues $2,300,000 of 8%, 15-year bonds dated January 1, 2011, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,987,457. Prepare the January 1, 2011, journal entry to record the bonds’ issuance...
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If a straight-line depreciation method is used
: A Caribbean cruise line has purchased a new cruise ship for $670,000 and expects to realize a net revenue of $190,000.00 each year for the next 10 years. The estimated salvage value of the ship at the end of its useful life of 10 years is $52,000. If..
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