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Accounting Help
You have formed a new sole proprietorship and your primary business is buying and selling fine art. Your business is not publicly traded so you can choose to use the cash basis method or the accrual method for your business. Which would you use and why? Since your business is not publicly traded, is it important for you to prepare journal entries and financial statements? Explain why or why not. Research computer systems methods you can use to record your transactions and create your financial statements.
Suppose a company has a facility located where disastrous weather conditions often occur. Should it report a probable loss from a future disaster as a liability on its balance sheet? Why or why not?
Compute the inventory value of the units unsold in the hands of the consignee. (Round answer to 0 decimal places, e.g. 5,275.)
Prepare journal entries to record the following merchandising transactions of Blink Company, which applies the perpetual inventory system.
Either hedging a portfolio or increasing the returns, managers use one or a combination of five option strategies: spreads, straddles, strangles, covered calls, and condors. Select two of these strategies, explain how it works, and provide a speci..
frank erlacher an inventory control specialist is interested in better understanding the accounting for inventories.
Which one of the following distributions is nontaxable?
Classify the controls that you just identified above as either preventive, detective, or corrective controls. How does the matter of accountability (tracing transactions to specific agencies) affect the problem?
Prepare an income statement in its proper format ending on June 30, 2009. You should include the heading and left align it so the formatting is understandable.
The present value of the cash inflows would be $56,500. The profitability index of the project is closest to: (Round your answer to 2 decimal places.)
In May 2015, Hernando, a resident of California, has his 2013 Federal income tax return audited by the IRS. An assessment of additional tax is made because he had inadvertently omitted some rental income. In October 2015, California audits his st..
andy had agi of 80000 for 2010. he was injured in a rock-climbing accident and paid 5200 for hospital expenses and 2800
Compute the number of regular cruises and executive cruises
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