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1. What are the names of the two methods for treating the pre-acquisition revenue and expense items of a subsidiary purchased during a fiscal period?
2. Has GAAP become more like IFRS, or has IFRS become more like GAAP?
Amos could borrow $100,000 from its bank to finance the purchase at an annual rate of 8%. Should Amos borrow from the bank or use the manufacturer's payment plan to pay for the equipment?
Marsha Moore gave property with an adjusted basis of $28,000 to Alfred when the fair market value of the property was $25,000-What is Alfred’s basis for gain? What is his basis for loss?
Calculate the combined pre-determined OH rate using (1) units of production (2) machine hours: 40,000 machine hours, variable mfg OH $80,000, Fixed mfg OH $325,000. The company expects to produce 10,000 units and each product requires 4 hours of m..
The third generally accepted standard of audit fieldwork requires that auditors obtain sufficient, competent audit evidence to afford a reasonable basis for an opinion regarding the financial statements under examination.
In this discussion post you are to discuss either the pro or con of full financial disclosure. You must take a position advocating full disclosure and why this is beneficial for the marketplace and the economy or a position arguing that the associ..
A fixed asset has a cost of $12,000 and a salvage value of $3,000. The asset has a three-year life. If depreciation in the third year amounted to $1,500, which depreciation method was used?
A project is estimated to generate $5,000 in incremental gross profit, which includes $200 in depreciation. Incremental SG&A expense is $400. At a 35% tax rate, what is the after-tax incremental cash flow? Should the project be accepted or rejecte..
Generally accepted accounting principles (GAAP) require loss contingencies to be accrued in the period the contingency becomes known. However, GAAP specifically disallows booking gain contingencies until the gain is realized.
During 2006, Edgemont Corporation had revenues of $230,000 and expenses-Compute the retained earnings on December 31, 2005, and 2006.
Mr. and Ms.Ostedt have just purchased an $80,000 home and made a 25% down payment. The balance can be amortized at 10% for 25 years.
Answer the following questions based on Scottsdale, AZ CAFR year ending June 30, 2012.
A company requires $1,020,000 in sales to meet its net income target. Its contribution margin is 30%, and fixed costs are $180,000. What is the target net income?
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