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Question - Lee is starting a small lawn service. On the advice of his accountant, Lee has formed a corporation and made an S corporation election. The accountant has asked Lee to consider electing a fiscal year ending on the last day in February. The accountant pointed out that Lee's business is likely to slow down during the winter. Also, the accountant indicated that the February year end would permit the accountant to do Lee's accounting work after the busy season in accounting is over. What tax issues should Lee consider?
Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable
How might the senior audit manager or partner on a particular engagement determine how much cost is acceptable to incur in order to test a particular area? Can you think of any lower cost alternatives?
Determine the price of the bonds at January 1, 2013, and prepare the journal entry to record their issuance. Show calculations
What does the CPI measure and how is it created. Which of the following has a greater effect upon the CPI, a 10% increase in the price of milk, or a 10% increase in the price of a diamond ring and why
roland carlson is the president founder and majority owner of thebeau medical corporation an emerging medical
Calculate the WACC based on new range - Calculate the WACC prior to the firm exhausting its retained earnings - Determine the WACC after the firm had exhausted retained earnings
Maria Alvarez is investing $370,700 in a fund that earns 11% interest compounded annually. What equal amounts can Maria withdraw
Hawkins Construction Co. has a $60 million contract to construct a highway overpass and cloverleaf. The total estimated cost for the project is $50 million.
Prepare journal entries to record all transactions related to the warranty
Prepare the entry to record the accrued interest and the amortization of premium on December 31, 2010 using the straight-line method
What approach would you use to determine selling price (for example cost plus or target costing)? It is important when choosing a design. Explain your rationale for the pricing approach. Show expectations of growth and potential profit.
What are some business decisions that managers could make? What tools will they use to make recommendations regarding these business decisions? Why? How will they measure the success of their recommendations?
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