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Topic 1: Identify and describe the sources of generally accepted accounting principles. Identify source hierarchy and explain why the hierarchy is important.
Topic 2: Describe effective accounting information using the qualities of accounting information from your readings this week.
Topic 3: Describe how an accrual based accounting system is different from a cash basis of accounting.
Topic 4: Describe the types of business structures and the defining features of each structure.
Chi Corporation trades an asset with a book value of $20,000 for another asset with a fair market value of $15,000. Find out Chi s cost to record the new asset from the exchange.
Recording Transactions Affecting the Enterprise Fund and Business-Type Activities, Prepare general journal entries to record the December 31, 2013, accounts and balances for the Water Utility Fund, selecting the corresponding accounts from drop-down..
Describe in detail an ethical dilemma in business that you or a coworker experienced and how it was resolved.
What are the two techniques used to convert trial balances from foreign currencies in U.S. dollars? Explain the situations when you would employ each metod.
Discuss the proper accounting treatment of $273,000 ($714,000 − $441,000) by which the cost of the first machine exceeded the cost of subsequent machines.
The user has updated the question: User's response: Calculate the financial impact of buying a CT unit that would cost $3.0 million, would have a five-year useful life, would have a 10 percent salvage value.
Compute the day’s sales uncollected for both companies as of the end of current period. Which company is doing a better job in managing the collection of its receivables?
Explain the problem with authority and resoning
Make journal entries to record the issuance of 100,000 shares of common stock at $20 per share for each of the following independent cases
Shelton Engineering completed the following transactions in the month of June. Prepare a trial balance as of the end of this month's operations
Demostrate the entry in the Investment Trust Fund to summarize the collection of interest for six-month period.
Texark Inc., a calendar year taxpayer, reported $5,210,300 net income before tax on its financial statements prepared in accordance with GAAP. The corporation's records reveal the following information.
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