ACCT 612 TAX RESEARCH MEMO Gabrielle Cole Lebanon‚ Indiana January 25th‚ 2015 Relevant Facts The Pima and Southern Railroad (PSRR) needs to replace a 30 mile section of its track. The PSRR has bids from a contractor to replace the track for the following amounts: Cost of new track $5‚000‚000 Installing new track $3‚000‚000 Road bed grading and improvements $2‚500‚000 Removing old track ( net of salvage) $1‚500‚000 Total $12‚000‚000 The old track is fully depreciated
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ACC-550 / Week 1 Homework CHAPTER 1 CA1-1 (FASB and Standard-Setting) Presented below are four statements which you are to identify as true or false. If false‚ explain why the statement is false. 1. GAAP is the term used to indicate the whole body of FASB authoritative literature. True 2. Any company claiming compliance with GAAP must comply with most standards and interpretations but does not have to follow the disclosure requirements. False (all companies must comply to all standards and
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Chapter 3 Adjusting Accounts and Preparing Financial Statements QUESTIONS 1. The cash basis of accounting reports revenues when cash is received while the accrual basis reports revenues when they are earned. The cash basis reports expenses when cash is paid while the accrual basis reports expenses when they are incurred (and matched with revenues they generated). 2. The accrual basis of accounting generally provides a better indication of company performance and financial condition than
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Student View Student ID Class Cumulative GPA Residence Visa AH540792 as of 09/04/2012 at 23:49 Weppler‚ Brandie D01676675 Graduate 0.00 Domestic Level Campus Degree Program Concentration College Previous Degree Graduate Online Master of Acct and Finan Mgmt Acctg & Fin Mgmt MAFM_US Certified Public Accountant Keller Graduate School of Mgmt *Estimated Degree Progress* Requirements 9% The Degree Progress Bar is not a percentage of credits completed. The Degree Progress Bar is an indication
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Reserve’s Balance Sheet Assets Liabilities Securities + $1 billion Reserve acct. of securities dealers’ banks + $1 billion _____________________________________________________________________________________________
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Chapter 7 Fund Analysis‚ CashFlow Analysis‚ and Financial Planning 7.1 Van Horne and Wachowicz‚ Fundamentals of Financial Management‚ 13th edition. © Pearson Education Limited 2009. Created by Gregory Kuhlemeyer. After Studying Chapter 7‚ you should be able to: 1. 2. 3. 4. 5. 6. 7. 7.2 Explain the difference between the flow of funds (sources and uses of funds) statement and the statement of cash flows – and understand the benefits of using each. Define "funds" and identify sources and uses
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consecutive years‚ dividend payments were distributed to shareholders • • • • ACCT 551 Financial Accounting & Reporting‚ Fall 2014 Group-2 2 INTRODUCTION cont. • More than 37‚000 employees worldwide • Approximately 7‚900 employees engaged in research and development • Clinical research conducted in more than 55 countries • Research and development facilities located in 9 countries • Manufacturing plants located in 13 countries ACCT 551 Financial Accounting & Reporting‚ Fall 2014 Group-2 3 INDUSTRY
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Chapter 4 accounting for merchandising BUSINESSES Problems P4–1 1. AQUA CO. Income Statement For the Year Ended June 30‚ 20Y8 Revenue from sales: Sales $ 3‚625‚000 Less: Sales returns and allowances $ 37‚800 Sales discounts 20‚200 58‚000 Net sales $ 3‚567‚000 Cost of merchandise sold 2‚175‚000 Gross profit $ 1‚392‚000 Operating expenses: Selling expenses: Sales salaries expense $ 388‚800 Advertising expense 45‚900 Depreciation expense—store equipment 8‚300
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CURRICULUM ACCORDING TO CATALOGUE 2005 - 2006) NAME: ID #: Tel #: P.O.Box: E-mail: MAJOR REQUIREMENTS CR CORE BUSINESS COURSES ACCT 210 CONCENTRATION 3 BUSS 200 BUSS 211 ACCOUNTING CR 3 3 ACCT 215 ACCT 217 to ACCT 250 3 ACCT 217 to ACCT 250 3 2 ACCT 217 to ACCT 250 3 BUSS 230 3 ACCT 217 to ACCT 250 3 BUSS 239 0 0 Any business elective Total Crs 3 15 BUSS 240 BUSS 245 1 BIDS CR BUSS 248 0 INFO
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00 11‚087.00 (501) CASH PAYMENTS JOURNAL Account Debited Post. General Ref. Debit Rent Expense √ 1‚235.00 Acct Pay Debit Belk Suppliers Greene Inc. Harris Co. √ √ 4‚552.00 2‚158.00 3‚877.00 10‚587.00 (202) GENERAL JOURNAL Oct Oct 10 17 Purchases Debit Purch Disc Credit 1‚995.00 1‚235.00 (√) Date Page 3 Acct Pay Credit 4‚552.00 2‚658.00 3‚877.00 11‚087.00 (202) Description Accounts Payable Purchases Returns & Allowances
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