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Problem 1: A sole proprietor owns a computer shop. He reported the cost of his house and lot as an asset of the entity. What accounting assumption was violated?
a. Periodicity b. Materiality c. Monetary unit assumption d. Economic entity
Problem 2: Which of the following appropriately describes the relationship of the users of financial information with the reporting entity?
a. Government agencies are interested in the regulation of the activities of the entity.b. Employees are interested in comparing their salaries with the tax paid by the reporting entity.c. The general public is interested in a sole proprietorship and their ability to force the business's incorporation.d. Customers would like to knows of the ability of the entity to buy goods from the former.
What should be the depreciation expense on this machine for the year ended December 31, year 3?
Baba is to invest sufficient cash for a one-third interest in the partnership. How much is the adjusted capital of Tala? and how much is the investment of Baba
CSI Inc. had pre-tax accounting income of $1,800,000 and a tax rate of 35% in 2015, its first year of operations.
Record each of the transactions for Bennett Corporation in a journal.
Prepare the December 31 entry, if any, assuming it is probable (although not likely) that Bridgeport will be liable for $580,000 as a result of this suit.
Which of the following issues is not dealt with in The United Nations Convention against Transnational Organized Crime and its Protocols?
Salary of Pat Fisher, part-time employee who stuffed envelopes. What is the incremental cost of going outside versus conducting the survey as in the past?
Perez Company's break-even point is 13,000 units. Its product sells for $28 and has a $13 variable cost per unit. What is the company's total fixed cost amount.
Using CAPM and the Dividend Discount Model, determine if the shares are undervalued, overvalued or fairly valued? Show your work.
a corporation has only common stock outstanding,constitutes legal capital at a particular date
Give the Balance Sheet value in Investor's investment in Investee at December 31, 2017 and the total net income effect of all transactions
Question - If you put up $42,000 today in exchange for a 9.6 percent, 9-year annuity, what will the annual cash flow be
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