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Latest Posted Questions
With specific reference to Butterworth's essay and to Kilgore's article, explain how sports rituals provide a space for both imposing and resisting terms for social order, especially around...
Leonard Kevin Bias (November 18, 1963 - June 19, 1986) was a first-team All-American college basketball forward at the University of Maryland. Two days after being selected by the Boston Celtics as...
Instructions: Watch the video titled "Human Head Transplant" (Links to an external site.)Links to an external site. and write a short 3 paragraph analysis of the video. The analysis should identify...
1. How did Scudery's ideas on conversation differ from Castiglione's? 2. How did the social and/ or political context of their time impact Scudery's and Castiglione's views on rhetoric and...
Discuss how ICT can create value in your business. Consider the various matters that might have impacted the existing ICT system during Covid-19 in the light of the case study. KPMG. (2022). KPMG...
1. Discuss the advantages and challeges of viewing organizations through the container metaphor. Explain the basic concepts of CCO. Explain structruation theory and its various aspects. Distinguish...
Describe the role that marketing research plays at Dunkin' Donuts. What sort of information does Dunkin' Donuts consider when it's determining where to locate a new store? Discuss the importance of...
1. Are you strongest in Prework, Conversation, or Follow up? Using concepts and terminology from the Difficult Conversation module, explain why you are strongest and weakest in these categories. 2....
Read the following onlinecomment and then complete parts A and B below: Taking an online class in college is a waste of time and money. You don't even see your professor in person. How do you even...
After reading Hamblin's article, you'll notice he uses all three rhetorical appeals to change his reader's approach to sleep. write brief paragraph (5 sentences) identifying the ONE rhetorical appeal...
What are 2-3 strategies for communicating the mission and vision statements to various stakeholder groups ( e.g., leadership team, faculty, staff, students, parents, guardians, and community members)...
Explain the scope of OB in service jobs and describe its role in improving customer service. Creating a high-performance organization is very difficult. Discuss how job satisfaction can impact...
What is nonverbal communication and why is it important? Since nonverbal communication is ambiguous, how would you verify your interpretations of someone else's message? Use a personal example. Since...
The Ontario Line will be a 15.6-kilometre subway line that will make it faster and easier to travel within Toronto and beyond. The line will bring 15 new stations to the city and will run from...
There are many co-cultures in the U.S. What are some of the primary ones? What sets them apart as co-cultures? Values? Beliefs? Behaviors? Think of a prominent member of a co-culture in the United...
A common-size income statement for Liberty would report (amounts rounded) a. Net income of \(16 \%\) b. Cost of sales at \(36 \%\) c. Sales of \(100 \%\) d. All the above
The company has 2,500 shares of common stock outstanding. What is Liberty's earnings per share? a. 2.04 b. 3.6 times c. \(\$ 1.22\) d. \(\$ 3.05\)
Liberty's return on common stockholders' equity can be described as a. Weak b. Normal c. Average d. Strong
Which measure expresses Liberty's times-interest-earned ratio? a. 15 times b. 27 times c. 20 times d. \(51.8 \%\)
During 2005 , Liberty's days' sales in receivables ratio was a. 39 day's b. 37 day's c. 35 day's d. 30 days
Liberty's inventory turnover during 2007 was a. 6 times b. 7 times c. 8 times d. Not determinable from the data given
DVR Equipment, Inc., reported these data for 2007: Compute DVR's net cash provided by operating activities indirect method. Income Statement Net income. Depreciation....... Balance sheet Increase in...
Liberty's stock has traded recently around \(\$ 44\) per share. Use your answer to question 9 to measure the company's price/earnings ratio. a. 36 b. 44 c. 1.00 d. 69
Triumph Corporation is preparing its statement of cash flows by the indirect method. Triumph has the following items for you to consider in preparing the statement. Identify each item as an -...
Sun West Media Corporation had the following income statement and balance sheet for 2009 : Compute tor Sun West during 2009: a. Acquisition ol equipment. Sun West sold no equipment during the year....
Anita Maxwell Company expects the following for 2007: Net cash provided by operating activities of $150,000 Net cash provided by financing activities of $60,000 Net cash used for investing...
JoAnn's Bridal Shops earned net income of \($80,000,\) which included depreciation of \($15,000.\) JoAnn's paid \($120,000\) for a building and borrowed \($60,000\) on a long-term note payable. How...
Chocolate Inc. began 2007 with cash of \($55,000.\) During the year Chocolate Inc. earned revenue of \($600,000\) and collected \($620,000\) from customers. Expenses for the year totaled...
Little People Learning Center (LPLC) has assembled the following data for the year ended June 30, 2005. Prepare the operating activities section of LPLC's statement of cash flows for the year ended...
Lagos Toy Company reported the following comparative balance sheet: Compute for Lagos: a. Collections from customers during 2009. Sales totaled $140,000. b. Payments for inventory during 2009. Cost...
Use the data in Short Exercise 16-12 to prepare Little People Learning Center's (LPLC) statement of cash flows for the year ended June 30, 2005. LPI.C uses the direct method for operating activities....
SmartPages Media Corp. has experienced 10 years of growth in net income. Nevertheless, the business is facing bankruptcy. Creditors are calling all of SmartPages' loans for immediate payment, and the...
The accounting records of DVD Sales, Inc., include these accounts: Compute DVD's net cash provided by (used for) operating activities during March. Use the indirect method. Cash Accounts Receivable...
The income statement and additional data of Vitamins Plus, Inc., follow: Additional data: a. Acquisition of plant assets is $ 1 1 6,000. Of this amount, S 1 0 1 ,000 is paid in cash and \($15,000\)...
Compute the following items for the statement of cash flows: a. Beginning and ending Retained Earnings are \($45,000\) and \($70,000,\) respectively. Net income for the period is \($60,000.\) How...
Hawkeye Gymnastics Equipment, Inc., reported the following financial statements for 2006: Compute the amount of Hawkeye's acquisition of plant assets. Hawkeye sold no plant assets. HAWKEYE GYMNASTICS...
The income statement and additional data of Capitol Hill Corporation follow: Additional data: a. Collections from customers are Si 5,000 more than sales. b. Dividend revenue, interest expense, and...
Use the Hawkeye Gymnastics data in Exercise 16-22 to compute a. New borrowing or payment of long-term notes payable, with Hawkeye having only one long-term note payable transaction during the year b....
Top managers of Bernard Associates are reviewing company perfor- mance for 2009. The income statement reports a 15% increase in net income, which is outstanding. The balance sheet shows modest...
Elite Mobile Homes reported the following in its financial statements for the year ended December 31, 2007 (adapted, in millions): .Determine the following for Elite Mobile Homes during 2007: a....
American Reserve Rare Coins (ARRC) was formed on January 1, 2006, when ARRC issued its common stock for \($200,000.\) Early in January, ARRC made the following cash payments: a. For store fixtures,...
Accountants for Datsun, Inc., have assembled the following data for the year ended December 31, 2007: Requirement Prepare Datsun's statement of cash flows using the indirect method to report...
GSK Inc., accountants have developed the following data from the company's accounting records for the year ended November 30, 2005: a. Purchase of plant assets, $100,000 b. Cash receipt from issuance...
The 2008 comparative balance sheet and income statement of Digital Subscriptions, Inc.. follow. Digital Subscriptions had no noncash investing and financing trans- actions during 2008. During the...
The comparative balance sheet of Fidelity Medical Supply at December 31, 2008, reported the following: Fidelity's transactions during 2008 included the following: Requirements 1. Prepare the...
To prepare the statement of cash flows, accountants for A-Mobile, Inc., vou have summarized 2008 activity in the Cash account as follows: Requirement Prepare A-Mobile's statement of cash flows for...
Use the American Reserve Rare Coins data from Problem 16-33A. Requirements 1. Prepare American Reserve Rare Coins' income statement for the year ended December 31, 2006. Use the single-step format,...
Lucenay Interiors, a furniture store, was formed on January l, 2008, when lucenay issued common stock for \($400,000.\) Early in January, Lucena) made the following cash payments: a. \($100,000\) for...
Top managers of Chase Financial Services are reviewing company per- formance for 2009. The income statement reports a 20% increase in net income over 2008. However, most of the net-income increase...
The comparative balance sheet of Fitzwater Company at March 31, 2009, reported the following: Fitzwater's transactions during the year ended March 31, 2009, included the following: Requirements 1....
Carlson Corporation accountants have assembled the company's data for the year ended December 31, 2007. Requirement Prepare Carlson Corporation's statement of cash flows using the indirect method to...
The 2005 comparative balance sheet and income statement of Get Wired, Inc., follow on the next page. Get Wired, Inc., had no noncash investing and financing transactions during 2005. During the year,...
Use the Lucenay Interiors data from Problem 16-42B. Requirements 1. Prepare Lucenay Interiors' income statement for the year ended December 31, 2008. Use the single-step format, with all revenues...
Accountants for Compass Software have developed the following data from the companv's accounting records for the vear ended April 30, 2005: a. Purchase of plant assets, \($59,400 b. \) Cash receipt...
Use the Get Wired. Inc., data from Problem 16-45B. Requirements 1. Prepare the 2005 statement of cash flows by the direct method. Follow the statement format given in Exhibit 16A-3. 2. How will what...
Round Rock Corp. borrowed \(\$ 35,000\), issued common stock of \(\$ 10,000\), and paid dividends of \(\$ 25,000\). What was Round Rock's net cash provided (used) by financing activities? a. \(S 0\)...
Source Today earned net income of \(\$ 60,000\) after deducting depreciation of \(\$ 4,000\) and all other expenses. Current assets decreased by \(\$ 3,000\), and current liabilities increased by...
The Plant Assets account of Star Media shows the following: Star Media sold plant assets at a \(\$ 10,000\) loss. Where on the statement of cash flows should Star. Media report the sale of plant...
To prepare the statement of cash flows, accountants for Toil-Free Calling, Inc., have summarized 2008 activity in the Cash account as follows: Requirement Prepare the statement of cash flows of...
Peppertree Copy Center had accounts receivable of \(\$ 20,000\) at the beginning of the year and \(\$ 50,000\) at year-end. Revenue for the year totaled \(\$ 110,000\). How much cash did Peppertree...
Which item appears on a statement of cash flow's prepared by the indirect method? a. Payments to suppliers b. Payments of income tax c. Depreciation d. Collections from customers
Assume you prepay Hercules Workout World for a package of six physical training sessions. Which type of account should you have in your records? a. Prepaid expense b. Accrued expense c. Accrued...
Hercules Workout World gains a client who prepays \($630\) for a package of six physical training sessions. Hercules Workout World collects the \($630\) in advance and will provide the training...
Pilot Company had operating expense of \(\$ 40,000\). At the beginning of the year, Pilot owed \(\$ 8,000\) on accrued liabilities. At year-end, accrued liabilities were \(\$ 4,000\). How much cash...
All of the first months activity for Crystal Clear Cleaning is as follows. Requirements 1. Journalize transactions as required from the activity data. 2. Post journal entries to T-accounts and...
This problem helps you develop skill in recording transactions by using a companys actual account titles. Refer to the Amazon.com financial statements in Appendix A. Assume that Amazon.com completed...
Eco-control has been explained with use of three different approaches.What is eco-control? Explain the difference between the three approaches. Is there a link between the integrated approach and...
What are the main functions of good environmental management? Which environmental management tools are related to each of these functions? Are there any environmental management tools common to all...
What are the main similarities and differences between BS 7750, EMAS and ISO 14001? Is one of these systems to be preferred over the other two?
Standards can be technical, performance-based or process-based. Distinguish between these three categories and identify the category that applies to standards for environmental management systems.
Otis Carpenter opened a medical practice in Alexandria, Virginia. Requirement 1. Record the preceding transactions in the journal of Otis Carpenter, M.D., RC. Include an explanation with each entry....
Redesign and implementation of accounting and reporting systems to incorporate environmental and ecological considerations faces a number of practical considerations. List and rank four of these...
Implementation plays a critical part in environmental management.Why might environmental management fail at the implementation stage? Can these reasons for failure be corrected or avoided?
Is there any notion of a trade-off between risk and return involved in an ecoefficiency portfolio matrix? How are green stars and dirty dogs related? In your answer cite examples from an industry...
Portfolios are constructed to reduce risk for a given level of economic return. In this context, why would a company be interested in constructing an ecoefficiency portfolio?
Information management is the core of any environmental management system. Do you agree with this statement? How important is accounting information in an environmental management system? Outline...
Eco-control has five procedural steps.Think of an important corporate environmental intervention (e.g. emission of waste-water). With reference to this corporate environmental intervention, explain...
Redwing Floor Coverings, Inc., reported the following summarized data at December 31, 2009. Accounts appear in no particular order. Requirement 1. Prepare the trial balance of Redwing Floor Coverings...
Use the September transaction data for Otis Carpenter, M.D., P.C. Requirements 1. Open the following T-accounts: Cash, Accounts receivable, Medical supplies, Accounts payable, Common stock, Service...
Nancy Carpenter Optical Dispensary purchased supplies on account for \($1,200\). Two weeks later, the business paid half on account. Requirements 1. Journalize the two transactions for Nancy...
Jonathan Law Firm performed legal services for a client who could not pay immediately. The business expected to collect the \($9,000\) the following month. Later, the business received \($5,400\)...
Lakeview Sales Consultants completed the following transactions during the latter part of March: Requirement 1. Journalize the transactions of Lakeview Sales Consultants. Include an explanation with...
Janes Cream Soda, Inc., makes specialty soft drinks. At the end of 2010, Janes had total assets of \($300,000\) and liabilities totaling $220,000. Requirements 1. Write the companys accounting...
The following transactions occurred for Advanced Engineering: Requirement 1.Record the transactions in the journal. Sep 2 5 10 12 19 21 27 Paid utilities expense of $300. Purchased equipment on...
Review Kelly Long Travel Designs trial balance. Assume that Long accidentally listed dividends as \($100\) instead of the correct amount of $1,000. Requirement 1. Compute the incorrect trial balance...
Georgia Lapp Travel Design, Inc., prepared its trial balance. Suppose Lapp made an error: She erroneously listed common stock of \($30,100\) as a debit rather than a credit. Requirement 1. Compute...
In October, 2011, the first five transactions of Fines Maid Service, Corp., have been posted to the accounts as follows: Requirements 1. Prepare the journal entries that served as the sources for the...
The journal of Bell Technology Solutions, Inc., includes the following entries for August, 2010: Requirements 1. Describe each transaction. 2. Set up T-accounts using the following account numbers:...
Granger Technology Solutions, Inc., completed the following transactions during January 2011, its first month of operations: Requirement 1. Record the preceding transactions in the journal of Granger...
The following transactions occurred during the month for Mona Wade, CPA, PC: a. Wade opened an accounting firm by investing \($16,500\) cash and office furniture valued at \($5,300\). The business...
Suppose your name is Grant Scheffer, and Advanced Automotive repaired your car. You settled the bill as noted on the following invoice. To you this is a purchase invoice. To Advanced Automotive, it...
The accounts of Valentine Moving Company follow with their normal balances at Requirement 1. Prepare Valentines trial balance at April 30, 2010. Common stock Insurance expense $ 59,500 Trucks $...
The following trial balance of Jeana Jones Tutoring Service, Inc., at August 31, 2011, does not balance: Investigation of the accounting records reveals that the bookkeeper: Requirement 1. Prepare...
Donna White started her practice as a design consultant on January 1, 2010. During the first month of operations, the business completed the following transactions: Requirements 1. Open the following...
William White practices medicine under the business title William White, M.D., P.C. During January, the medical practice completed the following transactions: The business uses the following...
Party Time Amusements Company owns movie theaters. Party Time engaged in the following business transactions in 2012: Party Time Amusements uses the following accounts: Cash, Supplies, Building,...
The trial balance of Seth Knoll, CPA, P.C., is dated November 30, 2011: During December, Knoll or his business completed the following transactions: Requirements 1. Record the December transactions...
Vince Smith opened a law office on March 2, 2010. During the first month of operations, the business completed the following transactions: Requirements 1. Open the following T-accounts: Cash,...
The trial balance for Gold Rush Exploration Company, Inc. does not balance. The following errors were detected: a. The cash, balance is overstated by \($2,000\). b. Rent expense of \($390\) was...
The trial balance of Kind Care Child Care, Inc., does not balance. The following errors are detected: a. Cash is understated by \($2,000\). b. A \($1,000\) debit to Accounts receivable was posted as...
Warren Smith practices medicine under the business title Warren Smith, M.D., P.C. During April, the medical practice completed the following transactions: The business uses the following accounts:...
Big Screen Amusements Company owns movie theaters. Big Screen engaged in the following business transactions in 2012: Big Screen Amusements uses the following accounts: Cash, Supplies, Building,...
Timothy Muse opened a law office on October 2, 2010. During the first month of operations, the business completed the following transactions: Requirements 1. Open the following T-accounts: Cash,...
Ann Duxbury started her practice as a design consultant on March 1, 2010. During the first month of operations, the business completed the following transactions: Requirements 1. Open the following...
The trial balance for Silver Shovels Exploration Company does not balance. The following errors were detected: a. The cash balance is overstated by $3,000. b. Rent expense of \($390\) was erroneously...
The trial balance of URNO 1 Child Care, Inc., does not balance. The following errors are detected: a. Cash is understated by $5,000. b. A \($3,000\) debit to Accounts receivable was posted as a...
Vann Stubbs started Stubbs Carpet Installers, Inc., and during the first month of operations (December 2011) the business completed the following selected transactions: a. Stubbs began the business...
Fran Stein started an environmental consulting company and during the first month of operations (February 2012) the business completed the following transactions: a. Stein began the business with an...
Haupt Consulting, Inc., completed the following transactions during the first half of December, 2010: Requirements 1. Open T-accounts in the ledger: Cash, Accounts receivable, Supplies, Equipment,...
Here you will account for Sherman Lawn Services transactions as it is actually done in practice. Sherman Lawn Service completed the following transactions during August: Aug 1 Received \($1,000\) and...
Why should business worry about the environment? How might ecological accounting help reduce such worries? In your answer consider the views of three different stakeholders.
Which environmental management concept encourages managers to favour the combined development of internal ecological accounting and management accounting. Explain.
Why might deep green environmentalists favour the presentation of corporate information in ecological accounts but reject disclosures in environmentally adjusted financial accounts?
What is the main difference between environmental accounting and ecological accounting?
Distinguish between environmental impact, environmental quality and environmental effect. How are these related to life-cycle assessment?
Triple-bottom-line reporting, based on the notion of ecologically sustainable development, aims to report on financial, social and ecological positions and impacts. Is ecological accounting and...
Should accountants establish themselves as a community of experts on ecological accounting and reporting issues?
Describe the environmental impact-added life-cycle chain. Select one particular industry and list the environmental interventions for each function in the chain. Rank the functions in terms of their...
What are the advantages and disadvantages of certified environmental product declarations? Assuming that you are the environmental manager of Global Autos, with companies operating in Sweden,...
List the problems with life-cycle assessment. Explain which level of management is appropriate for addressing each of these problems.
Explain each of the relationships outlined in the quadrants in Figure 10.1 (page 239). Detail the actions that would lead to a favourable change in direction in each of the four relationships...
Tools of environmental management need to be eco-efficient. What is ecoefficiency? What is an eco-efficient tool? Provide a critical analysis of the view that conventional life-cycle assessment is...
Stocks and flows are important in the management of a companys financial affairs and in the management of its ecological affairs (or of its impacts).What, if any, is the interrelationship between...
Products, geographic sites and businesses represent three objects for the collection, classification and communication of physical environmental information. Are these three objects related in any...
How does an EIA statement add value for internal management?
Are there any circumstances when top management will be interested in detailed ecological accounting information? Explain.
Internal ecological accounting provides information for a number of internal environmental impact added objects. What are these objects? Does internal ecological accounting information differ...
Is there a link between product-specific and site-specific life-cycle assessment? Which of these practical ways of drawing boundaries to the life-cycle assessment system will best help companies to...
What is the free-rider problem? Why does it discourage innovation in environmental protection and the adoption of high environmental standards? Can anything be done to overcome the free-rider problem?
Scientific uncertainty about emissions data can be large. The precautionary principle suggests that decision-makers err on the side of caution when there is scientific uncertainty. Examine the data...
For a small eco-tourism company keen to use life-cycle assessment for competitive reasons, is a streamlined life-cycle assessment, life-cycle review, matrix approach or comprehensive approach the...
Background inventory data represent average environmental interventions related to a particular material used in a particular industry.Who supplies such information? Why has background inventory data...
Environment regulations require investments in end-of-pipe technology to clean up pollutants: Explain whether you agree with this statement. Does this mean that a company should not undertake an...
Distinguish between direct and indirect environmental impacts of a division. Provide an example to illustrate the difference.Why is the difference important to a site manager?
Can the environmental impacts of one EIA centre be linked to the environmental impacts of another EIA centre? Provide an example to confirm your view? Do any control or responsibility problems arise?...
Name and explain two allocation rules and two allocation keys. Why are allocation rules and keys important to lower-level management? If you were a site manager in a chemical company, with a single...
The field of ontology studies different views of reality. Why are different ontological viewpoints important when determining the volume of information that needs to be produced by an ecological...
Construct an environmental profile for a company of your choice. How might the profile be of use to management?
Distinguish between the main approaches to impact assessment. Explain the three steps that lead to construction of an EIA index. Can environmental impact added ever be negative?
List the main categories of data quality. Do environmental indicators use all, some or none of these categories. Provide an example to support your view based on one environmental medium (e.g. water...
Compare environmental stocks and flows with financial stocks and flows.When tracking and recording these stocks and flows, what are the similarities and differences in processes used?
Why is it that techniques for putting financial values on eco-assets are fraught with difficulty?
What is critical natural capital? Provide examples. For a company, who determines whether natural capital is a critical ecological resource? Is there a difference between other natural capital and...
What is an eco-asset sheet? Does the value of eco-assets balance with those of eco-liabilities and eco-equity?
How many chemicals should be reported on in toxic release and national pollutant inventories and polluting emissions registers? What criteria have affected your choice?
What are the features of the US Toxic Release Inventory that other ecological reporting systems should consider adopting? Are there any problems with the TRI reporting system? If so, how can these be...
Are conventional financial accounting and external ecological accounting complements to each other or substitutes for each other? Discuss.
By using the five principles of regulatory design outlined in this chapter, consider how ecological reporting to external stakeholders provides a fundamental foundation for regulation of...
Regulation can no longer be viewed simply in terms of command and control over companies. Discuss two alternatives to direct regulation and explain, by using the notion of an enforcement pyramid,...
What are the pressures on managers to report biased ecological impact information to stakeholders? How might these be alleviated?
Net present value and net present environmental impact added have a number of similarities and differences. List and explain these. Consider the arguments for and against discounting future...
Examine the suggestion that small and medium-sized companies do not need information from a core set of ecological indicators related to their business.
What is the main difference between core and supplemental ecological indicators? Provide an example of each.Would it be useful to have all production site managers to report to top management on a...
List the main stakeholder groups in a company. Consider whether and why each stakeholder group might be interested in corporate eco-efficiency indicators. What level of information is each group most...
What is eco-efficiency? How is it measured? Why is it measured? Where is it reported?
Do the needs for and uses of internal and consolidated ecological accounting differ? If so, how? Are the two related?
How do the notions of going concern and gone concern affect ecological statements?
What assumptions underlie ecological accounting? Consider whether one assumption behind ecological accounting and reporting is more important than the other assumptions.
How might low-quality information in ecological statements be improved? In your answer, name two specific institutional mechanisms.
What are information quality and environmental quality? Are they related? Why is low-quality information said to drive out high-quality information?
Do the principles behind the indicators put forward by the UN Commission on Sustainable Development have any connection with the principles behind corporate external ecological reporting? Are there...
Why is monitoring and information disclosure critical for the success of emissions banking and trading?
Eco-efficiency provides necessary but not sufficient indicators of environmental performance. What is environmental performance? Provide an example of another type of information that is important...
The objective . . . is not to develop one single approach to measuring and reporting eco-efficiency. Rather it is to establish a general, voluntary framework that is flexible enough to be widely...
Benchmarking of eco-efficiency indicators faces a number of practical problems. What are these? Can they be overcome? Why is internal benchmarking more common than external benchmarking?
Why is the distinction between general and specific indicators of eco-efficiency important for accounting in (a) ecological and (b) financial terms?
What are the three steps that can be taken along a corporate eco-efficiency path? How are the five modules related to development of a measure of eco-efficiency?
Eco-efficiency provides a measure of winwinan action is undertaken if it saves money and environmental interventions are reduced. Is eco-efficiency too concerned about saving money rather than...
What is an environmental intervention? How are environmental interventions and eco-efficiency related?
You paid \($500\) for supplies and purchased additional supplies on account for \($700\). Later you paid \($400\) of the accounts payable. What is the balance in your Supplies account? a. $1,200 b....
Your business purchased supplies of \($1,000\) on account. The journal entry to record this transaction is: a. Supplies 1,000 Accounts receivable 1,000 b. Accounts payable 1,000 Supplies 1,000
Suppose Frazier Corporation has receivables of \($63,000\), furniture totaling \($198,000\), and cash of \($45,000\). The business has a \($108,000\) note payable and owes \($84,000\) on account. How...
How are the limits on using eco-efficiency indicators related to accounting?
Wayne Robichaud, Attorney, P.C., began the year with total assets of \($127,000\), liabilities of \($78,000\), and stockholders equity of \($49,000\). During the year the business earned rev enue of...
Michael Daigle, Attorney, P.C., began the year with total assets of \($122,000\), liabilities of \($71,000\), and stockholders equity of \($51,000\). During the year the business earned rev enue of...
Distinguish between a liability and an environmental liability. Is there any difference, in principle, between the recognition criteria for normal and environmental liabilities in conventional...
Present a critical appraisal of the argument that only one international standardsetting institution is needed to establish financial reporting standards relating to environmental issues.
Tax-deductibility of clean-up costsasset or liability? The IRS [US Inland Revenue Service] reversed its position on the accounting treatment of environmental clean-up costs in Revenue Ruling 94-38....
Explain the difference between an asset and an expense in conventional financial accounting. Are pollution permits an asset? Comment on the view that letting companies hold pollution allowances as...
Information disclosed in financial reports should have a number of characteristics (e.g. understandability, neutrality). What are these characteristics? Provide two examples of situations where there...
What reasons can you give in support of, and against, the development of separate financial accounting guidelines and standards that reflect the financial consequences of environmental issues?
How do stakeholder groups relevant to environmental management accounting and environmentally induced financial accounting differ?
Are systematic and unsystematic environmental risks related? Why, or why not? Are banks concerned about systematic environmental risks? Are insurance companies concerned about unsystematic...
Shareholder value, as a concept, faces a number of problems. List these problems. Can any of the problems be overcome?
Shareholder value is cash-oriented. Do you agree with this statement? Give reasons.
Is there a relationship between the number of accounting standards issued and demand for accounting and auditing services? Explain this relationship. Given this relationship, should environmental...
What is shareholder value? Given that there is a range of stakeholders interested in corporate environmental impacts, what arguments can be advanced for emphasising shareholders and value...
How important are environmental disclosures in the management discussion and analysis section of an annual report? Explain.
Conventional financial accounting suggests that environmental permits should be measured by using the historical cost principle. One alternative is that current market prices should be used instead....
If grandfathering is accepted as the basis for allocating initial emission permits what is the likely impact on early action (action before trading schemes commence) being taken to reduce emissions?...
What are the advantages and disadvantages of permitting counter-claims for insurance claims to be offset in financial reports? Consider the views of management, shareholders and a non-governmental...
Simons Realty issued \(\$ 250,000\) of \(6 \%, 10\)-year bonds payable at par value on May 1,2006, four months after the bond's original issue date of January 1, 2006. Journalize the following...
Onstar Communication issued \(\$ 100,000\) of \(6 \%, 10\)-year bonds payable on October 1, 2008, at par value. Onstar's accounting year ends on December 31. Journalize the following transactions....
Washington Mutual Insurance Company issued an \(\$ 80,000,7 \%, 10\)-vear bond payable at a price of 110 on January 1, 2009. Journalize the following transactions for Washington. Include an...
Ogden, Inc., issued a \(\$ 50,000,8 \%, 10\)-year bond payable at a price of 90 on January 1, 2006. Journalize the following transactions for Ogden. Include an explanation for each entry. a. Issuance...
Sonic Drive-Ins borrowed money by issuing \(\$ 1,000,000\) of \(6 \%\) bonds payable at 96.5 . 1. How much cash did Sonic receive when it issued the bonds payable? 2. How much must Sonic pay back at...
Hunter Corporation issued a \(\$ 100,000,61 / 2 \%, 10\)-year bond payable. Journalize the following transactions for Hunter. Include an explanation for each entry. a. Issuance of the bond payable at...
Can option values be used to promote corporate legitimacy?
What set of eco-efficiency characteristics is the shareholder value approach concerned with identifying?
Master Suites Hotels includes the following selected accounts in its general ledger at December 31,2008 : Prepare the liabilities section of Master Suites' balance sheet at December 31, 2008, to show...
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