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Why is understanding actual and budgeted costing, as well as direct and indirect costs, important for non-profit organizations? Does that importance translate to for-profit companies? For example, do for-profit companies have the same level of scrutiny on this accounting metric? Why or why not?
What are corporate dividends and how are they distributed and accounted for? Provide a discussion of all potential scenarios and the relevant accounting requirements.
On January 1, Year 1, Jayco purchased a machine for $6,000. It had an estimated salvage value of $1,200 and a life of six years. The straight-line method of depreciation was used. At, midyear in Year 4, Jayco sold the machine for $4,500 cash.
Determine the break-even sales volume in dollars and units and determine the number of units it must sell to generate a $100,000 profit.
Dalton Construction Co. contracted to build a bridge for $5,000,000. Construction began in 2010 and was completed in 2011. Data relating to the construction are:
in year 1 laylor company had revenues of 100000 advertising expense of 22000 depreciation of 15000 and other expenses
The Village Laundry Company purchased $6,500 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the laundry supplies indicated only $3,000 on hand. The adjusting entry that should be made by the ..
You are considering opening a kiosk in themall that will sell customizable aprons. You need to borrow money fromt eh bank to get the business started and estimate that you will need approximately $20,000. Calculate the estimated profit of your comp..
In addition, due to a bearish stock market, the value of the entity's investment portfolio has declined 15% from its purchase price. What issues must you consider in advising Amy and the corporate trustee?
Part 1: Compute the gain or loss on the immediate sale of the old scanner.
Ingram Co. manufactures office furniture. During the most productive month of the year, 3,500 desks were manufactured at a total cost of $84,400. In its slowest month, the company made 1,100 desks at a cost of $46,000.
What types of situations result in troubled debt? What are some of the general rules for recognizing gain or loss by both parties in a troubled debt situation? How would you report these gains or losses?
Bill is cash basis calendar year taxpayer. Which of the following December items result in gross income or deductions for the current year?
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