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Which of the following is the best theoretical justification for consolidated financial statements?
a) in form companies are one entity; in substance they are separate
b) in form the companies are separate; in substance they are one entity
c) in form and substance the companies are one entity
d) in form and substance the companies are separate
What are the differences between regular and irregular items on income statement? What are the requirements for items to qualify as irregular?
Required: Based on the above information, compute the amounts that should appear in the consolidated financial statements prepared for Barnes Company and it subsidiary, Dean Company, at year end for the following items: 1) sales; 2) cost of goods sol..
Analogue Technology has preferred stock outstanding that pays $9 annual dividend. It has a price of $76. What is the required rate of return (yield) on the preferred stock?
Distinguish between accounting treatment for available for sale equity securities and trading equity securities with example.
What interest rate should be used to calculate the interest revenue from this transaction for the years ended December 31, 2011 and 2012, respectively?
What are reversing entries and why are they required? What would happen if reversing entries were not made? What transactions might require reversing entries? What transactions might not require reversing entries?
Barrett's fashion forecasts sales of 125,000 for the quarter ended december 31 Its gross profit reate is 20% of sales and its september 30inventory is 32,500 If the december 31 inventory is targeted at 41,500 budgeted purchases for the fourth quar..
In the past (20 to 30 years ago) people relied solely on defined benefit plans and social security for their retirement planning. I wonder if the baby boomers started realizing the potential shortcomings and decided to start saving for retirement ..
What makes a CPA license valuable? a. Time, effort and education it takes to get the license. b. Continuing education after receiving the license. c. Monopoly on public accounting services.
Describe the direct and indirect technique in quoting foreign currencies. Provide some examples.
There are various steps that can be used to reconcile the use of different approaches between the buying and selling divisions
All materials are added at the beginning of the process. Direct labor was $49,500 and factory overhead was $9,900. The total conversion costs for the period were:
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