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if a loss contingency is probably or estimable but not both, what should we consider next? What must we disclose to the readers of the financial statements?
Accounting Basics, Accounting
Assessment task: Select two public limited companies listed on the Australian Securities Exchange (ASX) that are in the same industry. Go to the website of your selected companies. Then go to the Investor Relations secti ...
Question - 1. What is gross profit margin and what is net profit margin? What are in the between the two? Give a few examples to explain the items between these margins, and show how to analyze these items for improvemen ...
Question - Overhead Variances, Two- And Three-Variance Analyses Oerstman, Inc., uses a standard costing system and develops its overhead rates from the current annual budget. The budget is based on an expected annual out ...
Question - Blacken Company manufactures motorcycles. The company's management accountant wants to calculate the fixed and variable costs associated with utility cost incurred by the factory. Data for the past five months ...
Question: What is "The Principle of Charity"? In at least a paragraph, discuss a time that someone did not extend the principle of charity to you or that you did not extend the principle of charity to someone else. What ...
Question - What is the effect on total assets, liabilities, and equity of a partnership when a partner is admitted by purchasing an existing partner's interest? Why? What is the effect on the existing partners' capital a ...
Question - The Kuttner Corp issued in 2014 for violating patent laws. In 2014, the kuttner corp decides that a loss is probable, and records an expense of $23 million. What is the effect on income in 2016 if the case is ...
Question - The Social Security Administration increased the taxable wage base from $118,300 to $120,100. The 6.2% tax rate is unchanged. Joe Burns earned over $120,000 each of the past two years. a. What is the percent i ...
Questions - Q1. Conner Corporation's adjusted trial balance included the following items:Accounts payable ($65,000), Accounts receivable ($45,000), Capital stock ($100,000), Cash ($50,000), Dividends ($10,000), Goodwill ...
Question - This needed to be solved like Direct materials Inventory beginning balance- $184 Direct materials purchased- $640 Direct materials used- $675 Total Manufacturing overhead costs- $788 Variable manufacturing ove ...
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Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate
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