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During the audit, the audit firm discovers that the client has charged goodwill and intangible assets directly to retained earnings, when GAAP requires that that these intangibles should be recorded as assets and amortized over future periods. If intangibles were capitalized, it would have increased assets by $400,000 and increased net income by $360,p00, figures that are considered MATERIAL to the Company's financial statements. Management does not agree with auditors assessment and is therefore not making any adjusting entries to correct it. What type of audit report should be issued and why?
Nancy a salary equivalent to $28 per hour while Lisa receives a salary equivalent to $41 per hour. What is the total cost of preparing Mcbrides tax return
Kennedy Company had the following account balances at year-end: cost of goods sold $85,000; Prepare the adjusting entry necessary as a result of physical count
Allied, Inc. bought a two-year insurance policy on August 1 for $3,600. What is the adjusting journal entry on December 31?
x was interesting in ivesting in bonds and on 010112 purchased 10 bonds dated january 1 2012. these bonds had a face
discuss how you can use logic-based functions and features in excel to enhance the decision-making process to make more
The essay must incorporate a thoughtful analysis (considering assumptions, analyzing implications
straightforward net present value and internal rate of return the city of bedford is studying a 600-acre site on route
Gomez Co. paid the invoice within the discount period. What is the amount of gross profit earned by Abbey Co. on the above transactions
gregs electronics manufactures circuit boards for computer-controlled appliances for the home. the sales have been very
Using the double-declining balance method of depreciation, what is the correct book value for the machine at the end of the first year
The following information is provided for Candy, Inc.: Income from operations $98,600. What is the return on equity after income taxes
Receivable-royalty revenue 31,000, Prepare any journal entries Dreighton should record during 2013 related to the royalty revenue
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