From Chapter 6‚ read and answer question 8 on page 232. You must respond to at least two of your classmates’ postings to receive full credit. Explain the historical cost concept as it applies to long-term operational assets. The historical cost concept refers to the long-term operational assets be documented at the amount in which they are paid for. This amount will show on the balance sheet as long as the asset is owned. In time‚ the asset may rise or even decrease in value‚ but this variation
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This paperwork ACC 455 Week 2 Individual Assignment Problem Set includes solution of these exercises: C: 2-6 C: 2-40 C: 2-45 Business - Accounting Complete the problems found in Ch. 2 of Prentice Hall’s Federal Taxation 2010: Corporations . C:2-3 Black LLC C:2-54 Bear Corporation C:2-55 Wildcat Corporation C:2-56 Tax Strategy for Wildcat Corporation Read the scenario and respond to the questions. Support your answers with calculations‚ as needed
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Learning Team Reflection Team B Learning Team Reflection Team B I guess for me I am struggling with how to forecast and predict what is important enough to know what criteria is relevant information to use for the success of my organization. Since I only work in one area of the whole organization how do you predict when you are not privy to important information to know what direction to go in. I am hoping to learn how to think way outside the box and be able to see the bigger picture. One
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Learning Team D Week 3 Reflection ECO 561 August 25‚ 2014 Learning Team D discussed the objectives for week 3. Each Team Member posted a response in regards to topics they felt comfortable with‚ any topics they struggled with‚ and how the topics relate to their field. The areas we discussed were: Production Costs and Revenues‚ Monopolistic Competition‚ Innovation and Technology‚ Determinant of Supply‚ and the Regulation of Monopoly. The following is a compilation of Learning Team D’s opinions
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Individual Assignment: Generally Accepted Auditing Standards Paper By: Stacy Munns ACC/ 491 Professor Richard Cochran Due: December 3‚ 2012 Introduction: History of Auditing It is stated that “Auditing is based on the assumption that financial statement data are verifiable.” (Boynton & Johnson‚ 2006) The real reason of auditing didn’t really come until “the advent of the Industrial Revolution‚ from 1750 to 1850‚ that auditing began its evolution into a field of fraud detection and financial
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How would healthcare companies operate without accounting? Why do we need financial and managerial accounting and what are the fundamental differences between the two? You must respond to at least two of your classmates ’ postings to receive full credit. Accounting plays a huge role within healthcare industry. If healthcare companies did not have an accounting department‚ it would be nearly impossible for it to operate effectively. Without an accounting department‚ it would be difficult to determine
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Practice Text Exercises Karen V. Lawrence‚ Charita Dixon‚ Brian Swift‚ Javon Lewis‚ Cecelia Byrd ACC 561 June 21‚ 2011 Michael T. Bradford Practice Text Exercises Excel 12-59 Allocating Costs Using Direct and Step-Down Methods (p. 584) Goal: Create an Excel spreadsheet to allocate costs using the direct method and the stepdown method. Use the results to answer questions about your findings. Scenario: Antonio Cleaning has asked you to help them determine the best method for allocating
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In this file ACC 300 Week 5 Individual Assignment - Chapter Six you will find overview of the following parts: 1. Assignments from the Readings. Prepare responses to the following assignments from the e-text‚ Fundamentals of Financial Accounting 1st ed.‚ by Phillips‚ Libby‚ and Libby a. Chapter 6: Questions 2 and 3 2. Summarize the primary purposes of an internal control system. 3. What are the three internal control objectives for financial reporting? Business
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Answer Close ------------------------------------------------- Top of Form Problem 3-1A Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances. (Post entries in the order of journal entries posted in the previous part of the question.) Cash | | | | No. 101 | Date | Explanation | Ref | Debit | Credit | Balance | June 30 | Balance | √ | | | | Accounts Receivable | | | | No. 112 | Date | Explanation | Ref | Debit
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Individual Assignment Juliana Cardoso ACC 349 April 17‚ 2012 Dr. Armando Salas- Amaro Individual Assignment Ch. 8 E8-11 Allied Company’s Small Motor Division manufactures a number of small motors used in household and office appliances. The Household Division of Allied then assembles and packages such items as blenders and juicers. Both divisions are free to buy and sell any of their components internally or externally. The following costs relate to small motor LN233 on a per unit
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