installment basis. The total gain of $75000 was reported for financial reporting purposes in the period of sale. The installment period is 3 years; one-third of the sale price is collected in 2012 and the rest in 2013. The tax rate was 35% in 2012‚ and 30% in 2013 and 30% in 2014. The accounting and tax data is shown below. Financial Accounting Tax Return 2012 (40% tax rate) Income before temporary difference $ 175‚000 $ 175
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Accounting homework (Chapter 4) Discussion Questions 4.2 Why do you think it’s important to keep separate the transactions made by the business and its owner? Give an example of a personal transaction that has implications for the business entity. According to entity concept‚ every type of entity – sole trader‚ partnership‚ company and trust – must keep records of its business transactions separately from any personal transactions. Personal transactions are transactions of the owners‚ partners
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621-Financial and Managerial Accounting July 11‚ 2015 Problem 2-3 Indicate the net effect on assets‚ liabilities and owners’ equity resulting from each of the following transactions: Assets=Liabilities+owners’ Equity 1. Capital stock was issued for $100‚000 cash This will increase assets by $100‚000 and increase equity by $100‚000 2. Bonds payable of $25‚000 were refunded with capital stock. The liabilities will be decreased by 25‚000 and increase equity by 25‚000 3. Depreciation on plant and equipment
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Using the database and tables from Week Three‚ write queries using the SQL SELECT statement. Note: Select all of the data from both of your tables before you perform the following. · Select an EEO-1 Classification: Enhance all employees’ salaries that have: the selected EEO-1 classification by 10%. revise employee set salary = salary * 1.1 where eeo_1_classification = ’sales workers’ · Increase all employees’ salaries by 5%. revise employee set salary = salary
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Week 3 DQ Organization is a social unit of people that is structured and managed to meet a need or to pursue collective goals. (Businessdictionary.com) Organization as a structure distributes responsibilities among the members of the company (child 2005‚ p.6). By allocating people and recourses to the necessary tasks and designating responsibilities‚ the organization contributes to the successful implementations of its goals. While organization as a process focus more closely on behaviors
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Kudler Fine Foods Technology Solutions Kwame Abdulhaqq BSA/502 February 6‚ 2013 Rocky Riviera Kudler Fine Foods Technology Solutions Kudler Find Food is a virtual organization specializing in gourmet food products. Kathy Kudler is the owners of Kudler Fine Foods and Kudler’s food products consist of meats cheeses‚ pastries‚ wine‚ and seafood’s. Kudler Fine Foods has business operations in California‚ and La Jolla but their De Mar location has not been profitable. Kudler’s human resources
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Accounting System Paper BSA310 Accounting System Paper The accounting system is a central part of a business. Kudler Fine Foods has an out of date accounting system. This could cause issues for them in the future. The system could crash or loss important data the company might need. Kudler Fine food is upgrading the accounting system to ensure that their data is correct and secure. The new system Retail Enterprise Management System (REMS) will utilize the use of modules. The modules that
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Week 3 DQ 1: Due Day 2 Please post a 150-300-word response to the following discussion question by clicking on Reply. What is the difference between cash basis and accrual basis accounting? Why do accrual basis financial statements provide more useful information than cash basis financial statements? Describe when each method (cash basis and accrual basis accounting) would be appropriate to use. * Cash basis accounting recognizes revenues when cash is received and records expenses
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Biological and Humanistic Approaches to Personality Stefani Castillo University of Phoenix PSY 250 Sandra Coswatte June 2‚ 2014 Biological and Humanistic Approached to Personality Through the use of this paper the agreement between Maslow and Rogers when it comes to Maslow’s hierarchy of needs will be shown. It will also focus on the humanistic and biological approaches to personality. According to Orana (2009)‚ Maslow’s hierarchy of needs is a theory
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Learning Team Reflection Team A MGT/521 October 23‚ 2014 Al Tsai Intro Since the beginning of time and into present times great leaders and decision makers have mastered the art of delegation. Over history we have seen the end product of what a great leader with delegation skills can accomplish using their most valuable resource‚ people. In biblical scripture examples of delegation can be seen in the choosing of “disciples” by Jesus himself in order to accomplish various tasks and missions. All
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