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Write a one to two page memorandum on the following ethics issue: The owner of Sorena Company has asked your firm not to close the revenue accounts at the end of the fiscal year. "Our year-end income statement will look a lot better if we can fatten up those revenue figures with a couple extra days of revenue," she says. Sorena Company is a client of Accounting Services, Inc. You work for Accounting Services. I'm your supervisor and have asked you to research this issue and to give me your opinion and recommendations. You can assume I have knowledge of the subject area. This is a business memo and you will not reference the instructor, student, any textbook, or assignment. Keep this memo in a business context. Make sure to list the references (web addresses) you used to form your opinion. The reference needs to be within the memo not listed at the end of the memo. The following resources may help you research the subject: Accounting Periods and Methods Tax Guide for Small Businesses
The federal government provided the funds the following months. The local government would recognize revenues for the fiscal year ended June 30, 2009 in which amount?
There are a variety of non-audit services that CPAs perform for companies. Understanding what these services entail helps to ensure you are in compliance for any type of client engagement
Income before interest and taxes is expected to be $3,500,000. The company has a 30% tax rate and has 600,000 shares of common stock outstanding prior to the new financing.
Acitelli Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its most recent year of operations. The overhead for the year was: $1,520 underapplied $2,520 overapplied $1,520 overapplied..
problemwhile reviewing the march 31 2012 balance sheet of business solutions santana rey notes that the business has
Determine Cove’s break-even point in units and sales dollars. (Round your Break-Even Units answer to the nearest whole number. Round your other intermediate calculations and sales dollars answer to 2 decimal places.)
On January 1, Ripken Corporation had 40,000 shares of $10 par value common stock outstanding. On March 17 the company declared a 10% stock dividend to stockholders of record on March 20. Market value of the stock was $13 on March 17. The entry to rec..
On December 31, 2015, Cathy Chen, a self-employed certified public accountant (CPA), completed her first full year in business. During the year, she billed $360,000 for her accounting services. She had two employees, a bookkeeper and a clerical assis..
the cost of executing a transactiion is much lower firms have the ability to gather useful information about buyers firms can reduce their reaction times to changing market conditions and increase their sales reach.
Sara Yu, CPA, was retained by Info Cable to prepare financial statements for April 2014.Yu accumulated all the ledger balances per Info’s records and found the following. Cash received from a customer on account was recorded as $930 instead of $390. ..
For each of the following items, indicate where it would appear in the Statement of Operations for a private not-for-profit hospital: The premium from a capitation agreement, whereby a hospital agrees to provide services under a prearranged fixed amo..
Starling Co. is considering disposing of a machine with a book value of $12,500 and estimated remaining life of five years. The old machine can be sold for $1,500. A new high-speed machine can be purchased at a cost of $25,000. It will have a useful ..
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