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Problem 1: The business has interest expense of $9,000 early in January 2017. On December 15, 2015, a public company receives an order from a customer for services to be performed on December 28, 2015. Due to a backlog of orders, the company does not perform the services until January 3, 2016. The customer pays for the services on January 6, 2016. When should revenue be recorded for the company? Why (support your argument with a principle from the textbook)?
Problem 2: Scranton Motors Ltd faced the following situations. Journalize the adjusting entry needed at year end for each situation. Each scenario should be considered independently.
What is the cost principle and what happens if an asset like land has an increase in the fair value. How would the company report the land?
Research this question and can not find a set forth answer list of countries that have adopted IFRS and how cultural differences can impact interpretation of IFRS.
ABC Compagny is selling the unit of final product for $70. The projected income statement for 2014 follows: Compute the contribution margin per unit and the number of units that must be sold to break even. Compute the contribution margin ratio and th..
Construct the journal entries to account for the events and transactions in relation to the motor vehicle between 1 July 2015 and 31 December 2018.
What is the current yield on the bonds?
Give information about the Nutritional interventions and Acupuncture intervention for ADHD.
Business model as investment at amortized cost, at what amount should the investment account be reported in December 31, 2018 financial statement?
What item from the company’s records must be added to the bank balance when reconciling the bank statement? For corporations, capital losses are deductible:
When make a payment of $2,000 to the account, how come it goes into the credit side of the adjustment section of a worksheet?
Demostrate, using separate equations for MOS% and DOL that MOS% and DOL are functionally related. Specifically, show that MOS% = 1 / DOL. Of what interpretative or managerial value is this finding?
There are 15 units of the product in the physical inventory at November 30. The periodic inventory system is used. Determine the both cost of goods sold and ending inventory cost by a) FIFO b) lifo and c) average cost methods.
What is the maximum price you are willing to invest in that bond? Show your calculation. what is the current yield of the bond?
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