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Sucked into a wormhole while spending time in outer space, you land in a perfect world where accountants are worshipped and paid extravagantly. As an accountant, you're immediately offered a job at a local manufactory firm. In additional to a huge salary, you're also entitled to a year-end bonus of 5% of the company's profit after deduction for the bonus. At the end of the year the profit amount to $500,000 before accounting for your bonus. You're been asked to calculate your year-end bonus. Assuming you're honest, what will you inform management your year-end bonus should be? Remember, this is a perfect world so no income taxes exist. Show your calculations and round the nearest dollar.
Why is it more difficult to account for the inventory of a manufacturing firm than for that of a merchandising firm?
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The percentage analysis of changes of corresponding items in comparative financial statements is referred to as horizontal analysis. A. True B. Fals
WHAT IS ACCOUNTING STANDARDS
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Q. Describe the accounting procedures? The demand for college professors differ greatly by discipline. In fields such like Fine Arts, English, Philosophy and Psychology there i
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