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What are the four different adjusting journal entries? What accounting assumptions necessitate the use of adjusting entries? What are your thoughts on making adjusting journal entries; are they really needed or is this just extra work for accountants? (Please make sure to meet the word count 200-300 words and that all questions are answered.)
I can be almost as accurate, at virtually no cost, using the random walk model to forecast earnings." What is the random walk model? Do you agree or disagree with John Right's forecast strategy? Why or why not?
Compute the total, fixed, and variable predetermined manufacturing overhead rates. Compute the total, controllable, and volume overhead variances.
During 2010, Gorilla Corporation has net short-term capital gains of $120,000. Net long-term capital losses of $365,000, and taxable income from other sources of $900,000. Prior year's transaction included the following:
Is the purchase of equipment treated as an expense at the time of purchase? Why or why not?
Oct. 31 Sold one half of the wilson company bonds at 97 plus accrued interest. the broker deducted $400 for commissions, ect. remitting the balance. Prior to the sale, $450 of discount on one-half of the bonds was amortized, reducing the carrying ..
What is the difference between provisions that have a cash effect and those that do not have a cash effect? How would you define provisions that do not have a cash effect?
Both Adams and Wolfe are large public corporations with subsidiaries throughout the world. Adams uses a centralized approach and makes most of the decisions for its subsidiaries. Wolfe uses a decentralized approach and its subsidiaries ma..
Class, let's begin by discussing the internal control issues that are related to cash. What makes cash control different than control over any other asset?
Hughey Co. as lessee records a capital lease of machinery on Jan. 1 2011. The seven annual lease payments of $350,000 are made at the end of the year. The present value of the lease payments at 10% is $1,704,000.
During 2012, Harry, a self-employed accountant, travels from Kansas City to Miami for a 1-week business trip.
xyz company deposited 15000 in a bank account in return for issuing shares in the corporation. this transaction would
The following cost card was found in the Inventory ledger for part AAA. Direct Materials $600, 20 hours of Direct Labor at $20 per hour $400, manufacturing overhead is applied at $15 per direct labor hour, one third of the overhead is fixed the re..
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