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Question: The 2017 income statements of AGT Inc. reports net sales of $3,800.0 million. The balance sheet reports accounts receivable, gross of $527.9 million at December 31, 2016 and $501.0 million at December 31, 2017. For the purpose of detecting earnings management, the collection period for 2017 (rounded to the nearest day) is?
borderbooks company has two locations downtown and at a suburban mall. during march the company reported net income of
White Corporation, a closely held personal service corporation, has $150,000 of passive losses, $120,000 of active business income, and $30,000 of portfolio income. How much of the passive loss may White Corporation deduct?
Hedge funds- salaries paid to managers. what is the tax treatment the rational for this treatment. 2 pages 1.5 space
how using tax preparation software or internet r e s ources can assist the tax professional in the preparation of tax
It is discovered in 2011 that ending inventory from 2009 is understated. What accounts will be affected by this understatement, and how will they be affected? This is a situation that really happens. Start with the 2009 inventory being understated..
Preferred Stock (8%, $50 par, cumulative, 10,000 shares authorized) $ 400,000. Journalize the transactions and the closing entry for net income
Prepare a reconciliation of Tyrone's bank account as of April 30. Show both a corrected balance per bank and a corrected balance per books
Cost of goods manufactured, income statement, manufacturing company. Consider the following account balances (in thousands) for the Carolina Corporation.
1.on january 1 2013 randolph signed a two year lease to rent office space from zoff. the lease commenced immediately on
on january 1 2012 a machine was purchased for 197100. the machine has an estimated salvage value of 13140 and an
The data shown in the table below come from the annual reports of three local companies: Trimeris, Martin Marietta Materials and IBM. Units are shown. For each company: Compute the components of the cash flow diagram (i.e. Arrows 1-5). Show your wo..
except that XZY Corp's adjusted basis in the machinery was $29,000. What amount of gain would XZY Corp recognize on the exchange
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