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Use the three divisional income statements in the Pinnacle_Financials Excel file on the Web site to prepare a common-size income statement for each of the three divisions for all three years. Each division's income statement is in a separate worksheet in the Excel file. Use the information to identify accounts for which you believe there is a concern about material misstatements. Use a format similar to the one in requirement c.
Sullivan Co.'s accounts receivable show the following balances by age: Prepare the adjusting journal entry.
Tazmania Inc. had pretax financial income of $154,000 in 2007. Prepare Tazmania's journal entry to record 2007 taxes, assuming a tax rate of 45%.
Edison Company manufactures wool blankets and accounts for production costs using process costing. The following information is available regarding its May inventories.
What does the cost manager do? What information does the cost manager get and how does he use it? What decision does the cot manager make about production and how does it affect shareholders?
Why is it not possible simply to add together the separately computed earnings per share amounts of individual affiliates in deriving consolidated earnings per share? Explain.
Jane decided to resign from her current job, at which she earned $58,000 each year. She started her own business by using her $100,000 savings on which she was earning 5 % interest. In first year, her revenue was $150,000 and her costs were as fol..
You are an accounting tutor. One of your students is confused about impairment because the student has learned earlier that all assets are recorded at their historical cost. The student has the following list of questions for you:
Prepare the adjusting entry that records bad debts expense. Prepare the journal entry that records a write-off of a $700 uncollectible account receivable.
Write an analysis about test of liquidity that compare Radio Shack and Conn's to Best buy.
The quantity demanded falls to 300 units per week. Use the formula for arc elasticity to compute elasticity along this portion of the curve.
Crown Industries has the following information about its standards and production activity for December-Assume the allocation base for fixed overhead costs is the number of units to be produced.
A company processes a chemical, dx-1, through pressure treatment. The process has two outputs, A and B. The January costs to process dx-1 are $50,000 for materials and $100,000 for conversion costs. The outputs sell for a total of $250,000.
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