If Jason underestimates the dollar amount of ending inventory, what effect will it have on net income for the current accounting period? 3. Write a short paragraph explaining why a physical inventory should be taken at least once a year. 4. In groups of three or four, make a list of possible reasons that the actual ending inventory might not agree with the ending inventory according to a computer system.
Your Answer: $400 $440 $500 $0 5. Which of the following is not considered "constructive receipt" of income? Your Answer: A payment on a sale of real property was placed in escrow on December 16, 2009, but not received by Ms. B until January 10, 2010, when the transaction was closed. Ms. K was informed her check for services rendered was available on December 16, 2009, but she waited until January 16, 2010 to pick up the check. Earned income of Mr. D was received by his agent on December 30, 2009, but not received by D until January 3, 2010.
1.5 -Demonstrate financial planning for own home based service It can be quite difficult to have any ‘sound’ financial planning whilst you are a child minder as the childminding world can be very fickle with regard to how long you may have a child/contract for. In this current climate, one of the first things a family look at when having to tighten their purse strings is the cost of their childcare and often look to family & friends to help out. However, there are things that I have done over the last six years to ensure that I have been able to replace toys when they have become broken or to buy new activities for the garden as well as regular kits for our arts & crafts sessions. When we have the school holidays coming up, some of the school age children are on a higher daily rate as they are with me from 08:30-17:00 during the holidays instead of before & after school. I use that extra money to put to one side, to purchase new items or when I am doing a plan for outings etc.
Barbara Perez Breach of Contract PA300: Real Estate Law Prof: James Roche March 3, 2015 To: Barbara Buyer Date: 3/2/2015 From: Barbara Perez, Paralegal Re: Action on terminated property sale at 123 Van Buren Street, North Bergen, NJ 07047 I am contacting you in regards to the issue indicated. There are quite a few ethical issues in your businesses with Mr. Sam Salesperson and Seller. For instance, Mr. Salesperson did not produce the appropriate contract concerning the earnest payment on the two occasions where he had promised to do so. He also did not practice impartially as a dual agent and appeared to be biased towards the seller. It was even more unethical not to disclose the agreement that had been in the works with the other
If you find that you have debts on your report that are not yours, etc., you should contact the creditor and address the problem. Ask the creditor to contact the credit company with the corrected status of your credit. 4. PRE-QUALIFY OR GET PRE-APPROVED FOR A MORTGAGE LOAN Make an appointment with a loan officer at a bank or mortgage company. (Take a copy of last year's tax return with you.)
c. After purchasing a personal residence, Paul probably will no longer claim the standard deduction on the income tax return. Due to mortgage interest and property tax deductions he will itemize his deductions on Schedule A. 5. For wage earners, the tax system requires employers to withhold for taxes a specified portion of an employee’s wages. Persons with income form other than wages have to make quarterly payments to the IRS for estimated taxes due for the year.
Financial Statement Restatement Paper Christine Potter ACC 537 University of Phoenix Michael Collins November 7, 2010 Financial Statement Restatement Paper Beazer Homes USA, Inc., is a top homebuilder in the United States that is headquartered in Atlanta, Georgia. The Securities and Exchange Commission (SEC) pursued an investigation into matters that were the subject of a five month internal investigation. It was found that employees of Beazer Homes USA, Inc., violated generally accepted accounting principles (GAAP) by "recognizing revenue earlier than allowed, improperly accounting for sales/leaseback transactions, creating "cookie jar" reserves, and not recording land and goodwill impairment charges at the proper time" (Johnson, 2009, para 3). Beazer carried out closings on homes not ready to be moved into, pushing up the closing date in order to record the revenue from the sales and backdated documents of home sales so that they could be recorded in earlier financial reporting periods. The internal investigation discovered that Beazer's former chief accounting officer, Michael T. Ran, may have been accountable for disobeying generally
Gary Luisi Home Depot Financial Mgt 317 Western Int. University Professor Schlagheck April 21, 2013 Home Depot is the company I have chosen to follow for the next several weeks. I chose Home Depot for a few reasons. Home Depot has stores in all 50 states, District of Columbia, Puerto Rico, and US Virgin Islands, 10 Canadian provinces and also in Mexico. With construction of new homes still not picking up people have turned to remodeling their existing homes.
My Union Plus Mortgage I received a mortgage for my first home from Union Plus. It was a painless and easy application and my closing was everything that I could have hoped for. I have been a union member for five years now looked forward to home ownership. Unfortunately when I went looking for mortgages, there was a financial crisis affecting the nation. My credit was good and clean yet, had trouble getting a mortgage.
Restitutionary damages are usually awarded where a party has conferred a benefit on another under circumstances where the other party is not contractually liable. Specific performance is available only where the remedy at law is inadequate. Although a contract was never signed by Furniture Co it was doing business with Courier for six months. Courier gave up lucrative offers from other companies to fulfill the terms of the contract. Courier should be compensated for the three year commitment by Furniture Co. Contracts 616, Assignment # 11, Lopez, #4521 1.