External link to I want to buy Smithon Manufacturing because it is very profitable. Right now it has 30 shareholders but no single majority shareholder. It is a C…

I want to buy Smithon Manufacturing because it is very profitable. Right now it has 30 shareholders but no single majority shareholder. It is a C…

I want to buy Smithon Manufacturing because it is very profitable. Right now it has 30 shareholders but no single majority shareholder. It is a C corporation with a fiscal year-end of December 1. In order for me to buy this company, I will need to invest a lot of money in new manufacturing equipment, which means that Smithon will incur a loss for two […]

External link to The company uses the cash method of accounting and the calendar year for reporting.

The company uses the cash method of accounting and the calendar year for reporting.

I need help adjusting to tax balances for future work on tax return. ·                    The company uses the cash method of accounting and the calendar year for reporting. ·                    The company claimed $7,119 depreciation for book purposes, but $10,619 for tax purposes (under a MACRS methodology). Assume none of the depreciation creates a tax preference or adjustment for AMT purposes. The company is NOT a personal holding company. ·                    All […]

External link to Purchase of motorcyclesKelebogile Ltd, a motorcycle retailer which operates in Johannesburg, ordered 40 new top-ofthe-rangemotorcycles form China on…

Purchase of motorcyclesKelebogile Ltd, a motorcycle retailer which operates in Johannesburg, ordered 40 new top-ofthe-rangemotorcycles form China on…

Purchase of motorcyclesKelebogile Ltd, a motorcycle retailer which operates in Johannesburg, ordered 40 new top-ofthe-rangemotorcycles form China on 1 November 2013.The motorcycles were received in Durban on 1 January 2014. The invoice price of themotorcycles was R50 000 each (before a trade discount of 20%) and is payable on28 February 2015.The following cash costs regarding the purchase were:RFreight and insurance 70 000Customs duty 170 000Cartage […]

External link to Part I of the Shenanigans book takes us through a number of investor horror stories.

Part I of the Shenanigans book takes us through a number of investor horror stories.

Part I of the Shenanigans book takes us through a number of investor horror stories. One of the major purposes of SEC regulation, FASB, GAAP, and the attest (public company audit) business is to represent financial situations “fairly”. With all this regulation and mandated reporting, WHAT HAPPENED SINCE 2007? Have we seen echoes of the Shenanigans cases in more recent horror stories? Are : } Securities { Exchange Commission […]

External link to The United States is looking to increase the amount that it exports. What steps should it take to meet this objective?

The United States is looking to increase the amount that it exports. What steps should it take to meet this objective?

The United States is looking to increase the amount that it exports. What steps should it take to meet this objective? The economy is experiencing high and rising inflation rates. As a member of the Central Bank, what would you recommend as appropriate monetary policy to control and rectify this problem? Explain how an increase in your nominal income and a decrease in your real […]

External link to The following data apply to items (a) and (b). Sparks, the owner of School Supplies, Inc., wants to maintain control over accounts receivable.

The following data apply to items (a) and (b). Sparks, the owner of School Supplies, Inc., wants to maintain control over accounts receivable.

The following data apply to items (a) and (b). Mr. Sparks, the owner of School Supplies, Inc., wants to maintain control over accounts receivable. He understands that accounts receivable turnover will give a good indication of how well receivables are being managed. School Supplies, Inc., does 70% of its business during June, July, and August. The terms of sale are 2/10, net/60. Net sales for […]

External link to Chemmart Pty Ltd (Chemmart) is a family-owned company operating chemist shops in Perth. A large proportion of the sales transactions are conducted…

Chemmart Pty Ltd (Chemmart) is a family-owned company operating chemist shops in Perth. A large proportion of the sales transactions are conducted…

1. Chemmart Pty Ltd (Chemmart) is a family-owned company operating chemist shops in Perth. A large proportion of the sales transactions are conducted in cash. Chemmart claims on having strong control policies and procedures in place to monitor the employees handling cash transactions and safeguarding the cash. However, the proper implementation of those policies had been questioned by the previous auditor. As Chemmart is planning […]

External link to Identify an information technology (IT) failure impacting financial/accounting data in a company within the last five years.

Identify an information technology (IT) failure impacting financial/accounting data in a company within the last five years.

Identify an information technology (IT) failure impacting financial/accounting data in a company within the last five years. The IT failure must have resulted from either poor information security, external cyberattacks, breach of information, inside jobs to manipulate/steal information, lack of regulatory compliance, etc. Then, address the following 2. List the related information systems/technology controls that could have prevented and/or detected the failure. Explain your reasoning. […]

External link to Step 3: Determine Your Organization’s Structure:

Step 3: Determine Your Organization’s Structure:

Step 3: Determine Your Organization’s Structure: Gather and Analyze Information Now that you have decided on a legal organization form for your business, which currently has a single location, you need to decide on an organization structure. Organization structure determines such things as what departments the organization will need, who will report to whom, how many levels you will have in your organization’s hierarchy, and […]

External link to Brenda is a purchasing agent for Commodities Exchange Corporation.

Brenda is a purchasing agent for Commodities Exchange Corporation.

Brenda is a purchasing agent for Commodities Exchange Corporation.Dennis, a Commodities corporate officer, gives Brenda writtenauthority to buy for the firm as many computers and peripheral devicesas necessary. The next day, Dennis calls Brenda and tells her to buyonly fifty note­book computers and nothing else. Brenda shows thewritten authority to E-Products, Inc., and enters into a contract withE-Products to buy sixty note­book computers and a […]

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