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This solution contains a Microsoft Power Point presentation with 55 slides that explains plant assets, depreciation, disposal of plant assets and depletion. Determining the cost of land, land improvements, buildings, and equipment is discussed. Each of these topics contains slides which explain and teach the concept, illustrate journal entries required and demonstrate the calculations necessary. How to calculate a change in the periodic rate is also shown. Plant asset disposal slides illustrate the following situations: retirement, loss on sale, and gain on sale. Depletion slides contain an example problem, calculations and a partial end of period balance sheet.
Describe financial statements users (internal and external) . Who will benefit the most from accounting?
The Central Valley Company is a merchandising firm that sells a single product. The company's revenues and expenses for the last three months are given below:
Show the loan in the balance sheet of the company
Prepare the bank reconciliation for Janus Jutes, Inc. dated May 31, 2009. Janus made a deposit on May 31, but this deposit did not appear on the bank statement, $1,451.
Compute the amount of income from the partnership which Potter should report for his tax year ended December 31, 2012.
What would be the proper entry for the following transaction?
Someone purchased 320 shares of DNA at 35 3/4 from broker. He charges 1.6% for the transaction. Odd lot carry 1/8 of a dollar brokerage differential.
The company's net income for the year was $9,600 higher under variable costing than it was under absorption costing. Given these facts, the number of units of product in the beginning inventory last year must have been:
Julia currently is considering the purchase of some land to be held as an investment. She and the seller have agreed on a contract under which Julia would pay $1,000 per month for 60 months, or $60,000 total.
What types of information must be disclosed in the management discussion and analysis? Explain.
How does the use of the accrual basis help organizations to better evaluate their performance over time? What protection could financial statements generated under the accrual basis have to a potential donor in the organization?
Analyze how corporations treat non-liquidating distributions and determine the most likely mistake(s) the client could make that would result in an IRS audit. Advise the client on how to avoid the mistake(s) and how you would respond to the IRS in..
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