Accounting 3 & 4 Exercises Set # 1 Lee E. 1. Fred has owned and operated a sole proprietorship for several years. On January 1‚ he decides to terminate this business and become a partner in the firm Sears and Roebucks. Fred’s investment in the partnership consists of P12‚000 in cash‚ and the following assets of the proprietorship: accounts receivable P14‚000 less allowance for doubtful accounts of P2‚000‚ and equipment P20‚000 less accumulated depreciation of P4‚000. It is agreed that the allowance
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Case 12-4 Wayside Inns‚ Inc. 1. Pro side: The proposed expansion appears to meet the firm’s stated expansion criteria; The existing inn is clearly operating at or near its practical capacity; The analysis is based on one year only‚ and it ignores the fact that the management and reservation fees stay within the overall firm. Con side: The ROI is projected to decrease with the investment; The turnover count might be grossly overstated. This depends on how these data are collected. The same person
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Exercise 16–1 Requirement 1 Since taxable income is less than pretax accounting income‚ a future taxable amount will occur when the temporary difference reverses. This means a deferred tax liability should be recorded to reflect the future tax consequences of the temporary difference. Income tax expense (to balance) 140‚000 Deferred tax liability ([$400‚000 – 250‚000] x 35%) 52‚500 Income tax payable ($250‚000 x 35%) 87‚500 As a result‚ net income is $260‚000: Pretax accounting
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Exercise 4 Lab Report (3) Individual: Prepared blood slide (a.) Compare red and white blood cells - what cellular features are present in white cells but not in red blood cells and vice versa? Include a digital image of the blood cells present in the permanent dry. Red Blood cells carry hemoglobin inside of them which helps carry oxygen from the lungs to the rest of the body. Hemoglobin is what gives blood cells the red pigmentation. The amount of blood cells present in the blood give it
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the role | NadimAbidMuhammed | 14/09/12 | 08/09/12 | Break down the task | Identify the sub-tasks that need to be completed | Nadim | 14/09/12 | 09/09/12 | Research benefits/theories of teamwork | Benefits of Teamwork | Nadim | 14/09/12 | 09/09/12 | | Research the theories of Belbin. Who is Belbin and what was his theory? | NadimAbid | 14/09/12 | 09/09/12 | | What Characteristics are required of a high performance teams. | Nadim | 14/09/12 | 10/09/12 | Research theories of team leadership
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SUMMARY OF IAS 21 Objective of IAS 21 The objective of IAS 21 is to prescribe how to include foreign currency transactions and foreign operations in the financial statements of an entity and how to translate financial statements into a presentation currency. [IAS 21.1] The principal issues are which exchange rate(s) to use and how to report the effects of changes in exchange rates in the financial statements. [IAS 21.2] Key Definitions [IAS 21.8] Functional currency: the currency of the primary
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Capital Budgeting Derwin Brown FIN/486 12/15/2014 Rosa Welton‚ Instructor Capital Budgeting Considering the information for the Proposal concerning the building of the new factory‚ the incremental cash flows are needed for the NPV analysis. The incremental cash flows are sales of $3 million a year which equals an increase in gross margin by $150‚000 given a 5% gross margin and initial on investment of $10 million which is the cost of building the new factory. The savage
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This pack of FIN 370 Week 4 Learning Team Caledonia Products Integrative Problem comprises: Mini-Case‚ Chapter 20 Prepare a response to the Caledonia Products Mini-Case located near the end of Ch. 12 in Financial Management . Formulate answers to questions 1–7 Describe factors Caledonia must consider if it were to lease versus buying. Deadline: ( )‚ Business - General Business Does any one have the full tutorial for FIN 370 version 7 for UOP? Everyone
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collars‚ to accumulate large sums of money. 3. Conciliar movement: The conciliar movement promoted reform of the church through general councils that represented all of the Christian people‚ and it encouraged a constitutional form of church government. 4. Vernacular literature: Vernacular literature‚ literature written in national languages‚ became widespread in the fourteenth century. 5. Craft guild: A craft guild was an organization of workers skilled in a particular trade during the Middle Ages
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basically a broader regional system that encompasses all financial institutions‚ borrowers and lenders within the global economy. The five basic components of financial system are: 1. Money 2. Financial institutions 3. Financial instruments 4. Financial markets 5. The central bank Money The definition of money is at least cash and demand deposits (checking accounts). Several people‚ furthermore‚ add time deposits to that definition. The poorest countries don’t even have money‚ so the
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