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The CEO of your company has requested that you prepare a written presentation to be given at the next board of directors meeting regarding the continuing impact that the information age has on financial accounting. What are some of the ways that financial information will be changed in the way the information is processed, gathered, and communicated because of changing information technology?
Assume a nonprofit has a restricted fund for capital asset purchases. Compare the journal entries for the cash purchase of a $10,000 computer by the nonprofit, to how the journal entry would look for this for-profit.
What is the impact of not balancing intercompany payables/receivables on a monthly basis? What is the impact on not eliminating intercompany payables/receivables during the consolidation? Is there an instance where either of these two practices wo..
Why are there differences between taxable and financial income? What are some examples of permanent and temporary differences? Why do these differences exist? How do they affect the financial statements?
Jodz Company had the following stockholders' equity as of January 1, 2004. Prepare the journal entries to record the treasury stock transactions in 2004, assuming Jodz uses the cost method.
William Stevenson sold his warehouse to a public utility for $24,000 under a threat of condemnation. He paid $25000 for the property and spent an addition $1000 for a new roof. He had claimed $3600 depreciation in conjunction with the condemnation..
What is the distinction between equivalent units under the FIFO method and the equivalent units under the weighted-average method?
Provide and show all answers and step by step work to obtain the answer, not skipping any steps. Show all equations, acronyms (ie ETC, ACWP, etc), and if applicable, a description of how you came to the answer.
Prepare journal entries associated with changes due to errors. How do they relate to the practice of accounting and its uses in business?
Nellie is evaluating a potential bond purchase that the seller purchased 12 years ago for $4,000. The bond matures 8 years from today.
What was the cost of advertising and warehouse expense allocated to each of the business based on the traditional method? What recommendation would you make in allocating these expenses to each of the business and how much would be allocated to eac..
Land was given to the company by the State of Florida to use as a manufacturing facility site. The market value of the land at the time of the donation was $102,000. Prepare journal entries for Overland Company to record the above transactions
Genesis Corporation is now in its 30th year of business. The founder of company is planning to retire at the end of year and turn the business over to his daughter.
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