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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MEMO To: Manager of Newman Title Inc. From: Date: 12 September 2011 Re: SEC investigation and Resignation of CFO The purpose of this memo is to provide Newman Title Inc. manager‚ about the investigation from U.S. Securities and Exchange Commission (SEC) regarding Newman Title’s accounting practice of revenue recognition‚ and the impact of CFO’s resignation for the company its share market. Legally we are required to comply with the request of the SEC and give the SEC the invoices and
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with an implied rate of interest inherent in the discounted sale. Some bonds can be converted into other securities. Other bonds can be called in by the corporation. All of the terms and features must be disclosed in the financial statements. Any restrictions or covenants must also be disclosed. These restrictions are placed on the issuing corporation to protect the bondholder. Restrictions may include inability to pay bonuses or dividends‚ purchase additional capital assets‚ a requirement for bond
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Lee Corporation Equity Scenario • Review the following information: Lee Corporation‚ a U.S. company‚ began operations on January 1‚ 2004. During its first 3 years of operations‚ Lee reported net income and declared dividends as follows. Net income Dividends declared 2004 $ 40‚000 $ –0– 2005 125‚000
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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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Balance Sheet Notes Preparation and Discussion Odette A. Aquino Pérez‚ Desireé González And Edwin Reyes ACC 545 February 19‚ 2015 Prof. Rafael Marrero‚ PhD‚ MBA‚ CPA Footnotes Preparation and Discussion This week paper requires our team to prepare three notes to the balance sheet and income statement. Also‚ request us to discuss why footnotes are useful and important to financial statements. Below we have included the requested footnotes (prepared based on our experience working with a CPA Firm
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ACC 545 – FINANCIAL REPORTING – Complete Class Includes All DQs‚ Individual‚Final Exam and Team Assignments – UOP Latest Purchase this tutorial here: https://www.homework.services/shop/acc-545-financial-reporting-complete-class-includes-all-dqs-individualfinal-exam-and-team-assignments-uop-latest/ ACC 545 Complete Class Assignments Financial Reporting To Purchase Visit link below http://allmytutorials.com/?p=5918 ACC 545 Week 1 Individual Assignment CPA Report http://allmytutorials
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Everyone’s Gasoline Problem: As we all know that the price of gasoline is definitely driven by the concept of supply and demand. Never the less prices fall‚ quantity demand will rise‚ when price rises‚ quantity demanded will fall. Usually this is a true statement in most cases. But gasoline is a necessity to most Americans. The demand for fuel does not decrease when the price increase. Consumers often influence the price of gasoline. Gas prices in the late spring and summer months are the highest
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Course Project: Leadership & Organizational Behavior in Action August 26‚ 2012 I. Introduction xxxx Insurance Company is a Fortune 100 company based in Northbrook‚ Illinois that employs over 50‚000 employees across the country. It is widely known through its “You are in Good Hands with Allstate” slogan. Allstate’s major business is private passenger auto and homeowners insurance which are marketed under the Allstate brand‚ Encompass and Esurance (acquired in 2011). This course
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A family moves into your school district from Seattle. After the mother enrolls her two children in your school‚ she informs you that she has already contacted her lawyer and will sue the school unless the school provides a one-on-one personal assistant for each of her children who have been identified as learning disabled. What do you do/say? Be sure to cite case law examples and recent legislation to support your answer. If a mother enrolls her two children in our school from another district
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