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Question a. A corporation has $200,000 of income before income taxes, a 40% tax rate, and $130,000 of taxable income. Provide the journal entry for the current year's taxes.
Question b. On December 20 of the current year. Torro Corporation determined that equipment had been impaired so that the book value of the equipment was reduced by $180,000. In addition, the senior management of the company communicated an employee severance plan whereby 80 employees could receive a termination benefit of $7,000 per employee. Provide the journal entries for the asset impairment and the restructuring charge.
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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