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(Objectives of Financial Reporting) Karen Sepan (Objectives of Financial Reporting) Karen Sepan, a recent graduate of the local state university, is presently employed by a large manufacturing company. She has been asked by Jose Martinez, controller, to prepare the company’s response to a current Preliminary Views published by the Financial (Objectives of Financial Reporting) Karen […]

Blake Gillis president of Wayside Enterprises, applied for a $175,000 loan from American National Bank. The bank requested financial statements from Wayside Enterprises as a basis for granting the loan. Blake has told his accountant to provide the bank with a balance sheet. Blake has decided to omit the other financial statements because there was […]

Assuming the use of a two-column (all-purpose) general journal cash payments journal as illustrated in this chapter, indicate the journal in which each of the following transactions should be recorded: a. Payment of six months’ rent in advance. b. Adjustment to record depreciation at the end of the month. c. Adjustment to prepaid insurance at […]

Barone’s Repair Inc. was started on May 1. A summary actions is presented below. 1. Stockholders invested $10,000 cash in the business in exchange for common stock. 2. Purchased equipment for $5,000 cash. 3. Paid $400 cash for May office rent. 4. Paid $500 cash for supplies. 5. Incurred $250 of advertising costs in the […]

Assuming the use of a two-column (all-purpose) Assuming the use of a two-column (all-purpose) general journal, a revenue journal, and a cash receipts journal as illustrated in this chapter, indicate the journal in which each of the following transactions should be recorded: a. Receipt of cash from sale of office equipment. b. Sale of office […]

Debbie Woodall established an insurance agency on July 1, 2007, completed the following transactions during July: a. Opened a business bank account in the name of Woodall Insurance, Inc., with a deposit of $18,000 in exchange for capital stock. b. Borrowed $10,000 by issuing a note payable. c. Received cash from fees earned, $9,500. d. […]

Donna Ahern is the owner and operator of Omega, a motivational consulting business. At the end of its accounting period, December 31, 2009, Omega has assets of $760,000 and liabilities of $240,000. Using the accounting equation and considering each case independently, determine the following amounts: a. Donna Ahern, capital, as of December 31, 2009. b. […]

Donald’s transactions for the month of March 2012 are as Donald’s transactions for the month of March 2012 are as follows: Cash receipts ……………………………………. ?L Capital contributed ………………………………6 000 Sales to customers ……………………………….3 000 Cash payments Goods for sale ……………………………………4 000 Donald’s transactions for the month of March 2012 are as Stationery ………………………………………… 500 Postage […]

Do the Differences Really Matter? 1. Document the effects of the GAAP differences in the 20F by doing the following: a. For the current year, calculate the percentage change for net income and for total shareholders’ equity indicated by the reconciliation and using the non-U.S. GAAP (i.e., IFRS) numbers as a base. b. Repeat the […]

Asking for term project in computability and comlexity Hi there, I am a graduate student, and I have a computability and complexity class which my Prof. asked the class to do term project. So, who has a high level expert in this field to provide me an initial proposal and implement it for me exactly […]