Ada M. Tickle Week 3 ACC/545 Jamona Corporation Scenario 1 Journal Entries Dates Accounts Debit Credit 1 Jan 2006 Available for sale securities 322‚744.44 Cash 322‚744.44 31 Dec 2006 Cash 36‚000 Available for sale securities 3‚725.56 Interest Revenue ($3222.744.44 X .10) 32‚274.44 31 Dec 2006 Securities Fair Value Adjustment (available for sale) 1‚481.12 Unrealized Holding Gain or Loss Equity (320‚500.00 – 319‚018.88) 1‚481
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Restructuring Debt Scenario Understanding the current reporting requirements for long-term liabilities is critical when making the decision to make sacrifices for future economic benefits. Specifically these long term liabilities consist of bonds‚ mortgages‚ capital leases‚ as well as other types of debt. Bonds are one type of long-term liability‚ which are traditionally valued at the present value of the bonds expected future cash flows‚ which are made up of both interest and principal. Bonds
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Corporation – A separate legal entity that has an existence at law that is separable from those who form it. It is a separate legal entity in the sense that it has an existence at law‚ but no material existence. * It is separate and distinct from its shareholders * A properly authorized agent may bind the corporation in contract with third parties. * Shareholders possess limited liability for the debts of the corporation‚ and creditors may look only to the assets of the corporation to
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Reaction Essay: The Corporation The documentary The Corporation‚ directed by Jennifer Abbott and Mark Achbar and produced in 2004‚ although bias‚ opens many doors for discussion in regard to capitalism and the role of corporations in our lives. I found the documentary to be presented professionally‚ and filled with legitimate facts more so than extreme opinion. The documentary truly outlines the "all-pervasive" role the corporation has taken as the "world’s dominant institution". The film opens
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Business Ethics The Corporation ‘The Corporation’ had a specific aim to portray the problems of not just one corporation‚ but corporations as a whole‚ as is evident from the beginning of the film as a multitude of big business logos flashed across the screen. The film proceeded to highlight the issues surrounding: globalization and consumerism‚ environmental pollution and disregard for the planet‚ unethical marketing‚ and dishonest media. Personally‚ I feel that I’m quite open-minded when it comes
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The primary advantage of a corporate form of business is that a corporation is a stand-alone entity‚ which means you are not personally liable for the assets and debts of the business. Incorporating protects your personal assets from lawsuits‚ debt collection and other business issues that can arise. The stand-alone entity also separates tax liabilities‚ which is another advantage. This means that the corporation’s taxes are separate from your personal tax liabilities. As a business
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You are required to prepare an investigative report on a recent corporate scandal that involved improper accounting practices or any form of financial scandal. Your report must include the following: an overview of the corporation a description of the scandal methodology - explaining the specific accounting impropriety that the company used. an explanation of how the firm managed to hide their accounting improprieties a discussion of who the scandal effected - both inside‚ and outside
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liability of the shareholders. However‚ under certain circumstances the corporate entity may be disregarded. This is also known as piercing the corporate veil and is the most frequent method for holding the shareholders liable for the acts of a corporation. Corporate officers‚ directors and controlling shareholders have a general fiduciary duty of loyalty and care which should govern all their corporate conduct. Unless they breach that duty by gross negligence or acts in bad faith‚ they usually will
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BE301C 2014/9/22 Detailed information about China National Petroleum Corporation China National Petroleum Corporation(CNPC) is China’s largest oil and gas producer and supplier‚ as well as one of the world’s major oilfield service providers and a globally reputed contractor in engineering construction. The purpose of this company was to be a world-leading integrated international energy company with the general business portfolio of an international energy corporation. On the other hand‚ they want
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METU © 2014 IS 501 Information Management Systems ASSIGNMENT 1 Answers 1. a) Explain and discuss the strategic business objectives that the information systems of Dollar General address. Goodlettsville‚ Tenn.-based Dollar General Corporation is the US nation’s largest small-box discount retailer. Dollar General(DG) offers a carefully edited assortment of the most popular brands at low everyday prices in small‚ convenient locations. DG ranks among the largest retailers of top-quality brands
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