COURSE INFORMATION Quarter – Winter 2013 Day/Time – Tuesdays‚ 6:00p.m.-10:00p.m. Instructor – Timothy E. Carr‚ CPA Instructor Email: timothy.carr@strayer.edu Instructor Phone: 901-359-8408 Instructor Office Hours – By Appointment COURSE DESCRIPTION This course provides a framework for financial accounting concepts and practices used by internal and external users in businesses. Topics presented include the accounting cycle‚ financial reporting‚ financial
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9.3 B Davidson‚ DDS‚ purchased new furniture for its store on may 1‚ 2011. The furniture is expected to have a 10-year life and no residual value. The following expenditures were associated with the purchased: Cost of the furniture …………………………………………………… Freight charges ………………………………………………………… Sales taxes ……………………………………………………………… Installation of furniture ………………………………………………… Cost of repair furniture damaged during installation …………………… $11‚000 375 550 75 400 Instructions a. Compute
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CHAPTER 19 Accounting for Income Taxes CHAPTER REVIEW Introduction 1. Chapter 19 addresses the issues related to accounting for income taxes. Taxable income is computed in accordance with prescribed tax regulations and rules‚ whereas accounting income is measured in accordance with generally accepted accounting principles. 2. (S.O. 1) Due to the fact that tax regulations and generally accepted accounting principles differ in many ways‚ taxable income and financial income frequently
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Andrew Costa Professor Myles HUS 211 Substance Abuse 3/12/15 Opioids Outline Intro- Opium- from the Greek word opos‚ meaning juice or sap‚ was originally chewed‚ eaten‚ or blended into various liquids and swallowed. (Inaba 4-7) It was cultivated in The Mediterranean‚ and Southwest Asia. Dating all the way back to the 206 B.C.‚ Opium was a major product traded on the Silk Road. This classification of drugs is used primarily to treat pain‚ diarrhea‚ and cough. They are known to bring on a sense
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for $40‚000 2. borrowed $20‚000 from bank 3. provided services to customers for $53‚000 cash 4. paid back $8‚000 of the loan from the bank 5. paid rent expense‚ $9‚000 6. purchased equipment costing $15‚000 7. paid operating expenses‚ $25‚000 8. paid $4‚000 dividend to stockholders What was the company’s net cash flow from operating activities? A) $15‚000 B) $19‚000 C) $52‚000 D) ($48‚000) 3. The first organization created with the purpose of establishing generally accepted
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taxpayer must have at least a 10% interest in the rental activity. Chapter 8 3. Macy had a lot of medical expenses this year that were not covered by her insurance (either due to a deductible‚ co-insurance‚ or co-pay). Her un-reimbursed qualifying medical expenses total $8‚356 and her AGI for 2013 is $45‚000. Assuming she will itemize on her 2013 tax return‚ how much of her medical expenses will she be able to deduct? (5 pts) She will be able to deduct $3‚856 ($8‚356 – 10% of AGI of $45‚000). 4
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CHAPTER 16 (fin man); chapter 1 (man) MANAGERIAL ACCOUNTING CONCEPTS AND PRINCIPLES discussion questions 1. Financial accounting and managerial accounting are different in several ways. Financial accounting information is reported in statements that are useful to persons or groups outside of a company. These statements objectively report the results of past operations at fixed periods and the financial condition of the business under generally accepted accounting principles. Managerial
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EVQUES T3 SuB 2011 Key 1. In a recent period 12‚250 units were made and there was a favorable labor efficiency variance of $22‚500. If 41‚000 labor-hours were worked and the standard wage rate was $12 per labor-hour‚ the standard hours allowed per unit of output is closest to: A. 3.19 B. 3.35 C. 3.50 D. 6.00 [pic] AACSB: Analytic AICPA BB: Critical Thinking AICPA FN: Measurement Bloom ’s: Analysis Brewer - Chapter 09 #40 Learning Objective: 3 Level: Hard Source: CIMA
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population that will vote for George W. Bush in the next presidential election. d. Select a random sample of 50 babies born in 2000 and estimate the birth weight of all babies born during the same year. e. Examine the weights of a sample of 10 candy bars to see if their average weight is 6 ounces. 4. For each of the following examples‚ identify the data type as nominal‚ ordinal‚ or interval. a. The letter grades received by students in a computer science class b. The number of
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Ques 1: Considering the facts given in this case‚ I would argue that ASC 470-10 is not applicable in this situation. Product “X” is undeveloped and the status is undetermined‚ therefore‚ payments are not guaranteed through the future revenues of this particular product (ASC 470-10-25-1). Further‚ based on ASC 470-10-25-2‚ these factors do not apply in this case to qualify as a debt. However‚ the facts below would show why it is more appropriate to account for the financing of the research and
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