Explain excessive financial manager-narrow-mind businessman
Can you explain why an ''excessive'' financial manager and a narrow-minded businessman will be unable to understand each other?
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When a corporation liquidates, it performs three activities, what is the general order of these activities in a plan of liquidation?no words limits.
Prepare journal entries as of November 1, 20X1, to close the executor's accounts and to transfer the remaining assets to Helen Mitchel, widow, on that date.
Landon Corporation was organized on January 2, 2012, with the investment of $100,000 by each of its two stockholders. Net income for its first year of business was $85,200.
Major Instrument, Inc. manufactures two products: missile range instruments and space pressure gauges. During April, 47 range instruments and 303 pressure gauges were produced.
Assume the partners DO wish to record goodwill and no adjustments are necessary to the asset values other than goodwill. Prepare journal entries to record transactions. (Do not assume capital accounts are to be equal after entry.)
Annual income is constant over the life of the project. Each project is expected to have zero salvage value at the end of the project. Omega Company uses the straight-line method of depreciation.
A company is planning to purchase a machine that will cost $26,400, has a six-year life, and would be depreciated over a three-year period with no salvage value.
Taffy Industries is considering purchasing equipment costing $60,000 with a 6-year useful life. The equipment will provide cost savings of $14,600 and will be depreciated straight-line over its useful life with no salvage value.
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