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The following is an excerpt from a telephone conversation between Ben Simpson, presi- dent of Main Street Co., and Tami Lundgren, owner of Reliable Employment Co. Ben: Tami, you're going to have to do a better job of finding me a new computer programmer. That last guy was great at programming, but he didn't have any common sense. Tami: What do you mean? The guy had a master's degree with straight A's. Ben: Yes, well, last month he developed a new financial reporting system. He said we could do away with manually preparing an end-of-period spreadsheet (work sheet) and financial statements. The computer would automatically generate our financial statements with "a push of a button." Tami: So what's the big deal? Sounds to me like it would save you time and effort. Ben: Right! The balance sheet showed a minus for supplies! Tami: Minus supplies? How can that be? Ben: That's what I asked. Tami: So, what did he say? Ben: Well, after he checked the program, he said that it must be right. The minuses were greater than the pluses. . . . Tami: Didn't he know that Supplies can't have a credit balance-it must have a debit balance? Ben: He asked me what a debit and credit were. Tami: I see your point. Q:Comment on (a) the desirability of computerizing Main Street Co.'s financial reporting system, (b) the elimination of the end-of-period spreadsheet (work sheet) in a computerized accounting system, and (c) the computer programmer's lack of ac- counting knowledge
scissorwire inc. sells shares of its stock to the public with each share valued at 16. after a year the company incurs
Two parents have decided to establish an investment program. They estimate it will cost $40,000 per year for four years. Their investment program will earn them 10 % over the years. How much do they have to deposit for a lump sum?
Prepare a written assignment or ethical issue analysis involving using IMA standards to determine an employer's responsibility when cost savings come at the expense of employees' jobs.
examine the rules regarding the determination of gains and losses and the requirement for non-taxable exchanges. the
There were 1,100 units in beginning goods in process inventory, and they were 70% complete with respect to both direct materials and conversion costs. Calculate the equivalent units of production for the month, assuming the company uses the weight..
bogeeta inc. manufactures two products - bicycles and skateboards. for each bicycle sold the company receives 95. for
the john company maintains a checking account at the bank of the cumberland. the bank provides a bank statement along
the most recent monthly income statement for kennaman stores is given below total store i store ii sales total 2000000
in 2011 dick even and fran form triton corporation dick contributes land a capital asset having a 50000 fmv in exchange
jackson company applies overhead to jobs on the basis of 120 of direct labor cost. if job 107 shows 10000 of total
A non current asset has a carrying amount of $20,000. it could be sold for $18,500 with selling cost of $500. its value in use is $22,000 and its replacement cost$50,000. according to IAS 36 Impairment of Assets, what is the recoverable amount of ..
What is meant by the forensic-type fieldwork phase of an audit?
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