TAX FORM/RETURN PREPARATION PROBLEM C9-57 The Dapper-Dons Partnership (employer identification no. 89-3456798) was formed ten years ago as a general partnership to custom tailor men’s clothing. Dapper-Dons is located at 123 Flamingo Drive in Miami‚ Florida 33131. Bob Dapper (Social Security No. 654-32-1098) manages the business and has a 40% capital and profits interest. His address is 709 Brumby Way‚ Miami‚ Florida 33131. Jeremy Dons (Social Security No. 354-12-6531) owns the remaining 60%
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1、(1) What are the primary line items within Citigroup’s balance sheet and income statement? Balance Sheet Asset Cash and due from banks Deposits with banks Federal funds sold and securities borrowed or purchased under agreements to resell Trading account assets Investments Total loans‚ net Liability Total deposits Short-term borrowings Long-term debt Equity Common stock Additional paid-in capital Retained earnings Income Statement Income Total revenue Total provisions Total
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and use the debit part where they are automatically able to withdraw from your checking account. You’re able to sign up for this program and still receive your 5 percent off with every purchase at target also. 1. The firm’s auditors are Roxanne S. Austin and Douglas M. Baker. (Target 2012 Annual Report‚ 2012‚ p.77). Mrs. Austin is also part of the financing for the firm. (Target 2012 Annual Report‚ 2012‚ p.77). Mr. Baker is apart of the nominating and governance for the firm. (Target 2012 Annual
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accounting periods. T162. An adjusting entry includes at least one balance sheet account and at least one income statement account. T163. Recording incurred but unpaid expenses is an example of an accrual. F164. If all transactions were originally recorded in conformity with GAAP‚ there would be no need for adjusting entries at the end of the period. T165. Every adjusting entry must change both an income statement account and a balance sheet account. F166. When the reduction in prepaid expenses is not
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Ch. 5: Comprehensive Questions: Assertions 5-29 (Assertions) In planning the audit of a client ’s inventory‚ an auditor identified the following issues that need audit attention. 1. Inventories are properly stated at the lower of cost or market. 2. Inventories included in the balance sheet are present in the warehouse on the balance sheet date. 3. Inventory quantities include all products‚ materials‚ and supplies on hand. 4. Liens on the inventories are properly disclosed in notes
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340 Wages 72‚500 Insurance 4‚500 Taxes 32‚500 Depreciation 28‚500 Other 45‚000 Total Expenses 275‚340 ------------------------------------------------- Net Income $246‚660 Grennell Farm Balance Sheet (Sales/Delivery Method) ------------------------------------------------- Year Ending December 31‚ 2009 Assets Liabilities Current Assets Total Liabilities 33‚000 Cash 30‚900 Paid-In Capital 450‚000 Inventory 92‚100
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CHAPTER 5 Balance Sheet and Statement of Cash Flows ASSIGNMENT CLASSIFICATION TABLE | | |Brief Exercises | | | | |Topics |Questions | |Exercises |Problems |Cases | |1. |Disclosure principles‚ uses of the |1‚ 2‚ 3‚ 4‚ 5‚ 6‚ 7‚|1 |
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Analysis of balance sheet and profit and loss account The whole industry that we have developed considers three companies. Confidence‚ Lafarge surma and the other one is Heidelberg cement. Considering the four year balance sheet and income statement we have got the account for the whole industry. In the horizontal and vertical analysis of the balance sheet we can get the picture of the overall industry. The company Heidelberg cement is increasing its Current Asset account not in terms of receivables
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in each of the following situations a. Southwest Development Company is a sole proprietorship owned by Ms. Harper. b. Southwest Development Company is a 50-50 partnership of Ms. Harper and Christopher Black. c. Southwest Development Company is a corporation. P1-3 (Page 27) a. It is typical for Jane to plan‚ monitor and access her financial position using cash flows over a given period‚ typically a month. Jane has a savings account‚ and her bank loans money at 6% per year while it offers short-term
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Page No. 1. Cover Page……………………………………………………………………1 2. Contents. ………………………………………………………………….2 3. Computing the Amounts……………..……………………………3 4. Trading‚ Profit & Loss Account and Balance Sheet….9 5. Comments on the Performance of the Business…….10 6. Explaining the Limitation of Comparison…………...….12 7. References………………………………………………..……………..13 (A) Compute the following amounts: (I) Average Stock: Average stock = opening
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