The following selected transactions were completed by Reuben’s Delivery Service during October: 1. Received cash from owner in exchange for capital stock‚ $20‚000. 2. Purchased supplies for cash‚ $900. 3. Paid rent for October‚ $3‚000. 4. Paid advertising expense‚ $2‚500. 5. Received cash for providing delivery services‚ $23‚100. 6. Billed customers for delivery services on account‚ $41‚750. 7. Paid creditors on account‚ $4‚500. 8. Received cash from customers on account‚ $36‚200. 9. Determined that
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Economic benefit doctrine – Occurs when one receives a tax benefit from deduction and later receives reimbursement‚ it must be picked up as income (taxable) {Chapter 4} (will be on Homework ES and needs multiple questions) Applies to cash basis taxpayer; Income is taxable to the recipient when it is set aside on his behalf‚ made available to him‚ or is used to satisfy some of his indebtedness . A very narrow exception exists if to take possession of that income would result in undue hardship.
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ACCT504 Case Study 3 on Cash Budgeting The cash budget was covered during Week 4 when we covered TCO D and you read Chapter 7. There is also a practice case study to work on. Your Professor will provide the solution to the practice case study at the end of Week 5. This case study should be uploaded by 11:59PM Mountain time of the Sunday ending Week 6 to the Week 6 Assignment Dropbox. You are encouraged to use the Excel template file provided in Doc Sharing. The LBJ Company has budgeted sales
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ACCT 350—TENTATIVE SCHEDULE—Spring 2015 DATE TOPICS/CLASS WORK HOMEWORK 1-14 Course Introduction Chapter 2: Basic Cost Management Concepts 1-21 Chapter 2 continued Chapter 4: Activity-Based Costing Read Chapters 2 and 4 Ch 2: 28‚ 32‚ and 33 Ch 4: 28 and 29 1-28 Chapter 4 continued Chapter 7: Allocating Costs of Support Departments and Joint Products Introduce Time-Driven ABC article and Kemps LLC case Read Chapter 7 Ch 4: 30‚ 32‚ and 33 Ch 7: 7‚ 8‚ 9‚ 12‚ 20‚ 21‚ and 34 2-4 Chapter 7 continued
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ACCT 2010: Fall 2012 Sections L08‚ L09‚ and L15 GROUP PROJECT Please form groups of four to five students. Each group should analyze three cases provided below and write a short report. The objectives of the project are to help you develop the ability to 1) evaluate situations that have ethical implications‚ 2) identify the stakeholders and their interests‚ 3) describe ethical dilemmas and propose solutions‚ and 4) explain the importance of social responsibility. Each group should submit a written
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Internal control ACCT504 Financial accounting and Managerial use‚ analysis Keller Graduate school of Management Professor : Linval Frazer Week 5: Case study 2 Friday ‚ April 4‚ 2014 Preparing LJB’s Internal Control Reporting for Public Trading Background LJB Company ‚ a small business local distributor who understands to go public in the future‚ the company should be in accordance with the law and may need to take more stringent internal control principles . At the request of
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A Acct 505 Case Study 1 Springfield express is a luxury passenger carrier in Texas. All seats are first class‚ and the following data are available: |Number of seats per passenger train car | |90 | |Average load factory (percentage of seats filled) |70% | |Average full passenger fare | | |$160 | |Average variable cost per passenger
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Case 13.12 Describe the weaknesses that exist in Alden’s expenditure cycle. There are three performances that take place in the expenditure cycle: ordering items‚ receiving the items and paying for those items. The weakness that the Alden’s have is that they do not have an inventory control method‚ which means they just estimate what they need at the end of the month and purchase items. Another weakness is that they do not keep record of the inventory that is brought in and the inventory that
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7. 2.2 General Issue Process: (G.3.3‚ pg. 7-12‚ Par. 7.2‚ yellow highlight) a. Ops issuing crew: 1. Ensures correctness of document. 2. Offloading crew‚ if required‚ will be responsible for scanning assets from OIS location to OIS location. i. Ops ME is responsible for re-verifying accuracy of scan data information and if required‚ necessary corrections are made with the Ops crew. Corrections to NALC‚ quantities‚ NllN‚ lot and serial numbers are NOT authorized. Ops ME/ST is responsible for clearing
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2. Do you think the CAPM model is an appropriate way to calculate the cost of equity for these projects? Why or why not? Yes‚ the CAPM model is an appropriate way to calculate the cost of equity for these projects because they are short-term and it takes into account the riskiness of each project. 5. Which of the projects are unacceptable and why? Projects A and B are unacceptable because they both have negative Net Present Values. 7. Which project do you recommend and why? Explain why each
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