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Problem 1: A friend of mine is self employed and he only counts the currency he takes in as income and only recognizes expenses as he pays them. As such what kind of accounting is he practicing? Is this acceptable under GAAP
Problem 2: What is the accounting equation? List one item for each of the elements of the accounting equation.
Problem 3: What is the proper order for completing the financial statements? Why is this order critical?
Problem 4: What is the difference between the "Unadjusted Trial Balance" and "Adjusted Trial Balance"
Discuss why options and warrants may be considered potentially dilutive common shares for the computation of diluted earnings per share.
What statements are key targets for this manipulation, and what accounts found in the statements are the main focus? How can this fraudulent information.
1) A bank's savings account statements contain 24 items of account information. Last month, 2500 bank statements were checked and 52 errors were found in the account items. What is the dpmo value?
Merchandise inventory at the end of the month revealed that 475 units were sold. What is the cost of goods sold using the weighted average inventory method?
repare a bank reconciliation. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $650
Identify the limitations of the internal control system. Provide at least 3 limitations. Provide at least 2 examples of internal control procedures, and explain how these procedures can be implemented.
The fair market value of the properties transferred increased to P250,000,000. What amount should be included in the computation of his gross estate
What are the ramifications of such an accounting arrangement? What are the effects on the entity's financial statements
Develop the journal entry for review by your peers. Make sure to reference any page numbers of examples you are using
Identify each statement as true or false. If false, indicate how to correct the statement.
Identify and discuss the basic factors of communication that must be considered in the presentation of this information
Mike Polanski is 30 years of age and his salary next year will be $41,000. Mike forecasts that his salary will increase at a steady rate of 5% per annum until his retirement at age 60.
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