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Question - You are working as an accountant for Snow Shovelling Incorporated. The CEO of the company, Susan Rodriguez wants to increase profits so she gets a big bonus, so she asks you to record several prepaid contracts for FUTURE snow removal worth $13 000 as Revenue instead of Unearned Revenue in the company's financial statements.
Required -
a) What effect would this have on the financial statements? Be Specific and use numbers.
b) What Accounting Principle is being ignored here?
c) Will you do what Susan asked you to do? Why or Why not?
Write a 350- to 400-word paper in which you answer - What is the FASB Codification System? What is the purpose of the FASB Codification System
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respond to the following independent issues concerning the capital stock of corporations in your initial post why are
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