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Revenue recognition and the matching principle are important concepts in the field of accounting. Discuss with appropriate examples. The FASB and IASB recently released a new Revenue Recognition standard that will be implemented in the future. Therefore, in your discussion post, in addition to responding to the above requirement, I expect to see a discussion on this new standard.
a centrifugal pump is needed in a food processing plant has a first cost of 250000. use both the sum of years digit
the following selected account balances were taken from abc companys general ledger at january 1 2011and december 31
xavier auto parts inc. manufactures a wide range of auto parts which it sells to auto manufacturers primarily in the
Why must preferred stock dividends be subtracted from net income in computing earnings per share? Why is common stock usually not issued at a price that is less than par value?
superior corporation acquired taylor corporation pursuant to a statutory merger under state law. as a result of the
accrued salaries of 4950 owed to employees for december 30 and 31 are not comsidered in preparing the financial
Building an Income Statement, During the year, the Senbet Discount Tire Company had gross sales of $1.06 million. The firm's cost of goods sold and selling expenses were $525,000 and $215,000, respectively. Senbet alo had note payable of $800,000...
the payment of 10000 for expenses was recorded by spears co. as an increase in cash of 10000 and a decrease in retained
In a manufacturing company the proper journal entry (without numbers) to record the purchase of direct materials would be:
john campbell an employee of manhattan construction company claims to have injured his back as a result of a fall while
During August of the prior year Julio purchased an apartment building that he used as a rental property. The basis was $1,400,000. Calculate the maximum depreciation expense during the current year?
lindon company is the exclusive distributor for an automotive product that sells for 50.00 per unit and has a cm ratio
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