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Donors within the non profit sector (and they include: individuals, foundations, grant funds, agency funds (such as money from United Way), corporate contributions etc.) offer an opportunity/challenge because there is a personal reason for making their contribution; much more so than with tax revenue, enterprise fund or other source of revenue that we have discussed to this point. What unique issues does this bring up when it comes to managing revenue from this source? What additional obligations do you have when it comes to donation management that does not exist concerning other types of revenue?
What type of costing method is used by Crystal Glass? Does the method comply with GAAP? If not, what costing method should be used? What would net income be? Could the statements be misleading to the bank? Why or why not?
What are the advantages and disadvantages of making individual managers either, cost center manages, investment center manager, profit center manager.
Assume that you are part of the audit team and assess a client's audit risk as high. Suggest what procedure the audit team should implement to reduce the risk to the firm.
what is the amount of interest expense recorded by Pirate, Inc. in the first year of the asset's life?
On Jan 1. 2009, Clintwood corporation issued a $1,000, ten-year, 10% bond payable (interest payable each dec 31) For the 3 assumptions below complete the following schedule assuming the accounting year ends dec 31, and straight-line amortization i..
Which of the following statements concerning the impairment of fixed assets is true under US GAAP?
What are the chances that a company will have 20 years of losses to actually use a loss carryforward (and still be in business)? How do accounting principles support holding an asset on the balance for this long?
Linda wants to use the $236,100 proceeds ($168,000 + $19,000 + $49,100 = $236,100) from sale of the securities to open a retail store under a 12-year franchise contract.
Hutch Corporation finished their fiscal year ending March 31, 2010, with $88,000 of net income. They issued dividends of $22,000 at year end. At the end of the year on March 31, 2010, they had a net loss of ($46,000) and did not distribute any div..
Robb Corporation uses the allowance method of accounting for uncollectible accounts. During 2010, Robb had charged $80,000 to bad debt Expense, and wrote off accounts receivable of $90,000 as uncollectible.
What is the after tax cost of preferred stock that sells for $10 per share and offers a $1.20 dividend when the tax rate is 35%?
An apartment house was purchased on July 8 of last year, by a taxpayer who computes her taxes on a calendar basis. Her depreciation deduction last year was $7,902.
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