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What happens if a company fails to follow the realization concept or revenue recognition concept and say, records revenue they have not yet earned to hide the fact that they are having a bad year in sale? what are the legal repercussions accounting wise?
What are the advantages of acquiring the majority of the voting shares of another company rather than acquiring all of its voting stock?
A company has $8,200 in net sales, $1,100 in gross profit, $2,500 in ending inventory, and $2,000 in beginning inventory. The company's cost of goods sold is?
What are the main characteristics of intangible assets? How are they presented in the balance sheet? How do you estimate their useful life? Why is there a distinction between purchased and internally created intangibles?
Make the required end-of-period adjusting entries for each independent case listed below.
Distinguish between liquidity and profitability.
Which of the following statements is true regarding an intercompany sale of land?
Your suggested scorecard, which will be open to feedback from your senior managers, should include certain objectives, key performance indicators, and specific goals as a starting point for conversation.
The records of Nevada Co. indicated that $420,000 of merchandise should be on hand on December 31, 2010. The physical inventory indicates that $370,000 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage ..
The role and process of recognising depreciation in accounting reports, and by identifying accounting concepts which provide the justification for recognising depreciation.
Evaluate what is Systems Development Life Cycle methodology and how it applies to the American Lafrance Backrupcy case?
Calculate breakeven volume in total dollars if the sales mix is 2 units of X for every 3 units of Y.
Canliss Mining uses the retirement method to determine depreciation on its office equipment. During 2009, its first year of operations, office equipment was purchased at a cost of $14,000.
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