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Various types of accounting changes can affect the financial statements of a business enterprise differently. Assume that the following list describes changes that have a material effect on the financial statements for the current year of your business enterprise.1. A change from including the employer share of FICA taxes with payroll tax expenses to including it with "Retirement benefits" on the income statement.2. Correction of a mathematical error in inventory pricing made in a prior period.3. A change from presentation of statements of individual companies to presentation of consolidated statements.4. A change in the method of accounting for leases for tax purposes to conform with the financial accounting method. As a result, both deferred and current taxes payable changed substantially.5. A change from the FIFO method of inventory pricing to the LIFO method of inventory pricing.
Q. Which one of the following is not necessary in order for a corporation to pay a cash dividend? a. Adequate cash b. Approval of stockholders c. Declaration of dividends by the bo
Heather & Terry have a mortgage on their primary residence of $750,000 and a mortgage on their vacation home of $410,000. In 2013, they incurred $46,400 of mortgage interest expens
wrote check to purchase law books for 2500 what 2 accounts
1. Ben lost his job when his employer moved its plant. During the year, he collected unemployment benefits for three months, a total of $1,800. While he was waiting to hear from pr
GHH, Inc. has two classes of stock authorized: $100,000 par preferred and $1.00 par value common. As the begining of 20C, 200 shares of preffered stock and 300,000 shares of common
First Meeting of creditors The Official Receiver must convene this meeting within 60 days of the receiving order, unless the court extends the time, by giving notice to each c
Financial ratios have been categorized in a variety of manners. You may determine the subsequent broad bases having been utilized in current literature: Primacy Criterion: Th
How the value of information received by decision maker How the value of information received by decision maker eventually begins to decline. This is, maybe, since additional i
Ask question Sean Corp. issued a $60,000, 10 year bond at the face rate of 8% annually on 1/1/X0. The market rate was 10%. How much cash will the bond investors receive at the end
under gaap, are proceeds from capital lease obligation reported in the statement of cash flow and why
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