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Does every single database table require a primary key? Explain why or why not and provide an example to support your response.
What are the advantages of borrowing from the Federal Reserve banks or other central banks? Are there any disadvantages?
What are some of these tools furnished by an AIS that are available for measuring how a company is doing?
Define the terms debit and credit. Explain how debits and credits affect the following: assets, liabilities, owner's capital account, revenues and expenses.
Explain the purpose of adjusting entries. How is net income affected if adjusting entries are not made? Describe four closing entries and explain their purpose.
Describe the stock valuation methods FIFO and LIFO. Which items are included in ending stock under each method?
What was the key control weakness in this case? Discuss the allowance method and the direct write-off method of accounting for bad debts.
When a business sells a fully depreciated asset for its salvage value is a gain or loss recognized? How an organization prevent the kind of fraud depicted here?
Describe them and explain why they must be estimated. How are the financial statements affected if they are not estimated?
Discuss cash dividends and stock dividends. How is each recorded? When each is issued, what is the affect on assets, liabilities and owner's equity?
Besides spotting irregularities, like the case above, what are some other ways that ABC cost data are useful for manufacturing companies?
Prepare Thumbtack's operating expenses budget for April and May. Prepare Thumbtack's budgeted income statement for April and May.
Calculate the price and efficiency variances for direct materials and direct labor. How did this decision affect cost variances? Overall, was the decision wise?
How are topics added to the FASB's technical agenda? How might an auditor's ethics be challenged while performing an audit?
Why, in most cases, does accrual basis net income provide a better measure of performance than net operating cash flow?
Companies often are under pressure to meet or beat Wall Street earnings projections. Is earnings management always intended to produce higher income? Explain.
Explain and justify why revenue often is recognized as earned at point of delivery.
Prepare a statement of cash flows, using the direct method to present cash flows from operating activities.
Determine the amount of gross profit or loss to be recognized in each of the three years using the completed contract method.
Discuss the current year's balances in the form of a balance sheet and income statement, to the extent the information allows.
Write a short letter to Phil with your recommendation including the method you used to reach your conclusion.
A copy of the list is sent to Jerry McDonald who maintains the general ledger accounts. Fran prepares and makes the daily deposit at the bank.
Prepare a bank reconciliation for the El Gato checking account at December 31, 2011. Prepare any necessary adjusting journal entries indicated.
Why will bonuses be negatively affected? What is the effect on pretax earnings? Discuss the ethical dilemma John Howard faces.
Calculate depreciation for each year of the asset's eight-year life. Discuss the accounting treatment of the depreciation on the equipment.