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Question 1 -
A manager of a small electronics stores would like to expand and also sell computers. The expansion would require seeking a loan from a local bank. The manager knows net income for this year is lower than what is needed to qualify for additional financing at his current bank. The manager also realizes some of the estimates used to calculate net income could be adjusted to make net income come within the qualifying range for an additional loan. Discuss three or more of the following questions:
Question 2 -
A manager of men's clothing store receives a bonus based on the amount of gross profit earned by the department. This year the manager is only two thousand dollars short from qualifying for a sizable year-end bonus. The manager is in a position to have a portion of the inventory counted twice in the year-end physical inventory count. Cost of goods sold is adjusted for any changes to year-end inventory. Discuss three or more of the following questions:
If a gain of $7,000 is incurred in selling (for cash) office equipment having a book value of $55,000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is
travis fortney and architect opened an office on april 1 2010. during the month he completed the following transactions
Use of the time value of money concept applied to the lease versus buy decision. How does TVM affect the options involved
Discuss the audit opinion you consider most appropriate for each of these situations.
At the beginning of the year, Crispin, a C corporation, had a deficit of $35,000 in accumulated earnings and profits (E & P). For the current year, Crispin reported E & P of $12,000. Crispin distributed $10,000 during the year. What was the amount of..
Carbon Company has two classes of customers designated as C Classand D Class. Determine the profitability of each customer class using the activity information.
Explain how each of the events would affect the accounting equation by writing the letter and NA for does not affect under each of the components of the accounting equation.
What is the impact on net operating income by discontinuing housekeeping program?
chartreuse county choppers inc. is experiencing rapid growth. the company expects dividends to grow at 18 percent per
Equipment purchased 20th April 2014 K50,000 @ 8% rate (diminishing method).
The following data are taken from the comparative balance sheets of Fulton Company.
Which one of the following does not appear on the balance sheet of a manufacturing company?
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