What are the minimum requirements per gaap
While state and local governments are encouraged to prepare a complete CAFR, what are the minimum requirements per GAAP? Do you think this is correct or should a more complete report be required?
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Plan #1 would require the issuance of $4,000,000, 6%, 20-year bonds at face value. Plan #2 would require the issuance of 100,000 shares of $5 par value common stock which is selling for $40 per share on the open market.
Assume the same facts stated in the previous question. Which of the following is most likely TRUE, if Johnathan sold the land in September 2013 for $1,000,000?
Howell Corporation purchased $350,000 of its bonds on June 30, 2010, at 103 and immediately retired them. The carrying value of the bonds on the retirement date was $339,500.
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The research department has developed a new product (C) as a replacement for product B. Market studies show that Roland Company could sell 11,000 units of C next year at a price of $80, the variable costs per unit of C are $39.
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