CHAPTER 2 21. Generally accepted accounting principles a. are fundamental truths or axioms that can be derived from laws of nature. b. derive their authority from legal court proceedings. c. derive their credibility and authority from general recognition and acceptance by the accounting profession. d. have been specified in detail in the FASB conceptual framework. 22. A soundly developed conceptual framework of concepts and objectives should a. increase financial statement users’
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DISCHARGE SUMMARY Patient Name: Adela Torres Patient ID: 132463 Date of Admission: 6/22/---- Date of Discharge: 6/25/---- Admitting Physician: Leon Medina‚ MD‚ Internal Medicine Consultations: Sachi Kato‚ MD‚ Dermatology Procedures Performed: Intravenous Hydration. Complications: None. Admitting Diagnosis: Stomatitis possibly methotrexate related. HOSPITAL COURSE: This 57-year-old Cuban female was admitted from my office for treatment of severe stomatitis
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ACC206: Principles of Accounting II Final Paper Instructor: Emmett Denham March 25‚ 2013 ABC Company could reach $3 million in annual sales within 3 years if the company used shingle scrap material to build cedar dollhouses. The new product would add additional costs but would project an aggressive growth in revenue for the company. In the following reports I will show you how beneficial the cedar dollhouses would be to ABC Company. [ABC Company] | Cash Flow Satement | | | | Date:
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Activity 4.4 - Case Study - Measurement of Variables - Operational Definitions I Measurement is the assignment of numbers to characteristics (or attributes) of objects according to a pre-specified set of rules. Describe the object and characteristics of Syafiq’s study. The object of the study is to help the Standard Asian Merchant Banks SP department understand how‚ and to what extent‚ the customers use the website and how it can be simplified in order to reduce the number of help
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Decision Case 5-10 a). The CEO is mainly concerned with reporting the highest amount of income possible. Thus the CEO will be pleased if the company uses the FIFO method. This method recognizes as cost of goods sold the oldest costs‚ and because prices are rising‚ the costs charged to cost of goods sold will be less than if LIFO is used. b). It would be difficult to state absolutely which method is truly in the best interest of the stockholders‚ as FIFO results in lower COGS on the income report;
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$500‚000 and is known by both Brickhouse and Boudreau to be a fairly "soft" amount. Identify possible causes of action. -Brickhouse is acting unethically. His action serves only his self-interest‚ self review and has no clear basis in proper accounting procedures‚ so ignoring the familiarity with brickhouse ‚the controller‚ Louise Boudreau‚ should not manipulate net income in view of any compensation plan the company may have.He must comply with relevant laws and regulations and not assist others
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102:’ Part 1 Rnancial Accounting Problem 4-4; The account balances in the ledger of the Dindorf Company on January 3 1 (the end of its fiscal year)‚ before adjustments‚ were as follows: Debit Balances Cash and equivalents $ 119‚115 Accounts receivable 162‚500 Merchandise inventory 700‚680 Store equipment 21 5‚000 15‚475 Supplies inventory 38‚250 Prepaid insurance Selling expense 24‚900 105‚750 Sales salaries Miscellaneous general expenses 31‚000 6‚220 Sales discounts Interest expense 9‚300 Social
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correct picture on the firm’s financial performance and financial position. We have to recognize all transaction occurring in that accounting period‚ irrespective of whether cash has been received or paid. The ultimate objective of adjusting entries is to ensure that the revenues (income) earned in the accounting period are matched by all costs incurred for that same accounting period (Monash College‚ 2011). Prepayment There are two types of adjusting entries‚ prepayments and accruals. Prepayment is
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is a loan from ______________________________________________________________________________ private investors as opposed to a term loan‚ which is from a bank. ______________________________________________________________________________ AS-3 ( 4 ) An investor pays $83‚333 for a bond‚ but will receive $100‚000 when the bond matures. Has the investor bought the bond at a discount or at a premium? The investor has bought the bond at a discount. A discount bond is bought below par (face ___
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Accounting and Finance Management Assignment 2 Semester: 3 Prepared by: Osoba Seun Student Number: Sc-Kl-00021763 Email Address: josher4real@yahoo.com Date submitted: 17/01/2014 Question 1 Sales Budget September ($) October ($) Budgeted sales (units) 9‚500 Selling price per unit $12 Total sales 90‚000 114‚000 Schedule of expected cash collections: October ($) Account
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