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Assume that you are a technology services provider and you must decide whether to record revenue from the installation of computer software for one of your clients. Your contract calls for acceptance of the software by the client within six months of installation before payment is due. Although you have not yet received formal acceptance, you are confident that it is forthcoming. Failure to record these revenues will cause your company to miss Wall Street’s earnings estimates. What stake holders will be affected by your decision and how might they be affected?
Calculate the cost of goods sold for jewelry and watches for September and October - calculate a purchases budget, in dollars, for each product for the month of September.
Provide the journal entries to record these investments - Lori and Timothy combined their savings to open the Tires Lecher Bakery.
It records warranty expense with an adjusting entry at the end of each year. How much warranty expense does the company report in 2009 for this copier?
Lei purchased $3,000 stocks, expecting a 10% increase per year in value. What would be the after tax cash flow, when she sells the stocks in 7 years. He ordinary income tax bracket would be 25%?
Dylan worked for a propane gas distributor as an accounting clerk in a small Midwestern town. Last winter, his brother Mike lost his job at the machine plant. By January, temperatures were sub-zero, and Mike had run out of money. What can a business ..
For Bobby company, sales are $1,000,000 (5000 units), fixed expenses are $300,000, and contribution margin per unit is $80. what is the margin of safety in dollars?
Why are some bonds sold at a discount and others at a premium? How does this affect the accounting for the bonds? What is a bond? What factors can affect the value of a bond? How?
What is total amount of Revenue from Long-Term Contracts recognized for 2010 and what is the balance in the Accounts Receivable account assuming Cannon Cafe has not yet made its last quarterly payment?
Cleveland Co. did not have to also give him the car, and did it just out of admiration for Barnie doing such a great job. Is this income to Barnie as compensation, or a nontaxable gift?
Use the various control plans listed in your text as follows to choose the BEST plan to handle each problem that is presented. In your answer, explain WHY you believe this is the best control plan to address this issue. When in doubt, it is always be..
S corps and partnerships are both pass through entities, but the pass through rules are NOT identical. What are the differences in terms of limitations due to basis?
Burrough also paid $3,000 to a search firm for finder's fees related to the acquisition. Illustrate what amount will be recorded as goodwill by Burrough Corporation while recording its investment in Helyar?
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