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Panther co. had a warranty liability of $350,000 at the beginning of 2011, and $310,000 at the end of 2011. Warranty expense is based on 4% of sales, which were $50 million for the year. What were the warranty expenditures for 2011?
Why does an intra-entity sale of a depreciable asset (such as equipment or a building) require subsequent adjustments to depreciation expense within the consolidation process?
Illustrate what is the rationale of the GASB for requiring two sets of financial statements, each with a different measurement focus and basis of accounting for governmental activities?
Assigning responsibilities in various responsibility centers and Advertising is handled by the corporate marketing departments, but the sales office controls a SMALL operating budget for entertainment expenses.
Elucidate how the use of the losses in Part a would change if instead Raider were a partnership, and Monte and Allie were partners who shared profits, losses, and liabilities equally.
Find out the net present value of the investment in the machine. What is the difference between the total, undiscounted cash inflows and cash outflows over the entire life of the machine?
How do you take a known dollar value such as $240.00, back out the sales taxes from the known values using the States sales tax
Calculation of Contribution margin and gross margin using Marginal costing - The company had no beginning or ending inventories and evaluate gross margin for December
What are the number of shares, par value per share, and market price per share immediately after the 2-for-1 stock split? (Round your answers to 2 decimal places.
Determine the potential legal liability the accountant can face. Justify your position.
Determine the rate of return for the ratios - The following information has been taken from the financial statements of the Gaines Company. Gaines Company has only issued common stock
Collection fees associated with the $150,000 were remitted to Kirby County’s general fund prior to year end. Create the journal entries to record tax collections and remittances for the Kirby County Tax Agency Fund.
Discuss in 200 to 300 words, each of the four financial statements. Elucidate the different components of the statements as well as what the statements tell about a business.
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