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Question 1: Imagine that you are a financial analyst for your company asked to generate a forecast of your company's net income for the future period. You know that generally the best place to start in forecasting next year's net income is this year's net income. Given this starting point, look at the items in your company's recent period financial statements and make a forecast of the next period's income.
Question 2: What was your company's comprehensive income for the recent period?
Question 3: Locate your company's note on revenue recognition. What is the revenue recognition policy? What FASB Codification is being followed?
Question 4: Did you company's revenue increase or decrease from the prior period? Identify the major reason for the increase or decrease.
Problem: Part Level Submission. Using the data above, prepare abbreviated income statements for the years 2016 and 2017 on the accrual basis.
The bonds are sold on November 1, 2013 at 103 plus accrued interest. Prepare all entries required to properly record the sale
Due to a change in the market interest rate, she was able to sell the bonds at a $2100 gain. How much gross income should Maria report from transactions?
The payroll register for Proctor Company for the week ended February 14 indicated. Journalize the entry to record the payroll for the week of February 14.*
in december 2012 a company established its predetermined overhead rate for movies produced during year 2013 by using
Replace and the partners agree on a valuation of $29,000 for the contributed equipment, what amount should be debited to the equipment account?
1.Identify and analyse the achievements of the Burns and Scapens framework for studying management accounting change and also describe some of its limitations and extensions.
Which of the following is an example of a variable cost?
Calculate the cost of inventory on hand as at 31 May and the cost of sales as at 31 May. The company uses the perpetual inventory system to record stock
What is an effective way to incorporate variance analysis in the budget process? What are the differences between labor and material variances?
Prepare journal entries to record:a. the January 1, reversing entriesb. the March 1, $4,326 collection of the note receivablec. the May 1, $6,300 payment
Ask them to get copies of the user documentation they rely on for the systems they use. Analyze the documentation. Would you consider it good or bad? Sup- port your answer. Whether good or bad, how might you improve it?
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