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Your father runs a small auto body shop. He has decided to computerize his records and has asked you to explain the basics of accounting to him so that he can enter the data into his accounting software.
Explain to him the rules of debits and credits for the balance sheet and income statement.
Provide examples from the manufacturing industry of:
a journal entry that would be recorded that impacts the balance sheet.
a journal entry that would be recorded affecting the income statement.
Please provide the assumptions behind the transactions and the full journal entries.
In the current year, David and Debbie Wayland, both successful physicians, made cash investment for a limited partnership interest in a California berry farm. In addition to the cash obtained from the investors-Identify the tax issues facing the W..
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:
Write a strategy on how GM should operate its financial aspect of the company to improve sales.
Discuss the nonfinancial information that may be used to evaluate the performance of a college or university and suggest what information provides the most insight to financial performance.
Beka Company owns equipment that cost $50,000 when purchased on January 1, 2005. Prepare Beka Company's journal entries to record the sale of the equipment in these four independent situations.
Provide a brief definition of compilation and review performed in accordance with the SSARS. Include the type of assurance provided.
Write an analysis about test of liquidity that compare Radio Shack and Conn's to Best buy.
Calculate the firm's cost of retained earrings and the cost of new common equity. Calculate the break-point associated with retained earnings.
Phillips Company bought 40 percent ownership in Jones Bag Company on January 1, 20X1, at underlying book value. In 20X1, 20X2, and 20X3, Jones Bag reported net income of $8,000, $12,000, and $20,000
Fairfax Company had a balance in Deferred Tax Liability of $840 on December 31, 2014, resulting from depreciation timing differences. Make the income tax journal entry for the Fairfax Company for December 31, 2014.
Conduct research on the selected securities (Ford and UPS) Analyze the organizations' 10K and investment reports, general economic data, and Federal Reserve data.
Assess the supremacy provision in the Federal constitution. Discuss how the passage of a state tax bill is similar to the passage of a Federal law.
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