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What basic accounting principle is violated by the recording of the warranty reserve directly to retained earnings?
You have been asked to provide the journal entries for each calendar month, commencing 1 January 2009 and ending 30 June2009, to record the security in accordance with AASB139 assuming that it is classified as:
Discuss the importance of understanding the GAAP behind business combinations before performing the accounting. Additionally, why is it important that accountants report the numbers as dictated by GAAP regardless of what they may be?
Often Board and other committee volunteers for nonprofit organizaations are compensated for expenses during travel and meetings. Some think that this attracts volunteers for the wrong reasons.
Compute 3M's average collection period for accounts receivable in days. (Round turnover ratio to 1 decimal place, e.g. 10.5 and collection period to 0 decimal places, e.g. 125.)
What is CVP? Does the CVP assumption of linearity make sense within the relevant range? Has this assumption changed based on the current economy?
Indicate the account names, amounts, and classifications of the items related to the premium plan that would appear on the BC Candy Company balance sheet and income statement at the end of 2010 and 2011.
A university offers a walking escort service to increase security around campus. The system consists of specially trained uniformed professional security officers that accompany students from one campus location to another.
For eaqch of the folowing expenditures, indiacte the type of account in which the expenditure should be recorded. Explain your answers.
Southern State University had the following account balances as of June 30,2012. Debits are not distinguished from credits, so assume all accounts have a "normal" balance: Prepare, in good form, a Statement of Net Assets for Southern State Universi..
Zeta Co. has outstanding 100,000 shares of $100 par value cumulative preferred stock which has a dividend rate of 6 percent. Calculate the amount of dividends in arrears on Zeta's preferred stock.
S. Stephens and J. Perez are partners in Space Designs. Stephens and Perez share income equally.
bronze corporation sold machinery for $27,000 on december 31, 2011. The machinery had been purchased on january 2, 2008 for $40,000 and had an adjusted basis of $21,000 at the date of the sale. For 2011, what should Bronze Corporation report?
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