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AC 501

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E2-7 (Assumptions, Principles, and Constraints): Presented below are the assumptions, principles, and constraints used in this chapter.  Economic entity assumption 5.Historical-cost principle 9. Materiality Going-concern assumption 6.Matching princ.....
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E4-4 INSTRUCTIONS Prepare a classified balance sheet in good form (No monetary amounts are necessary) E4-9 INSTRUCTIONS Restate the current assets and liabilities sections of the balance sheet in accordance with good accounting practice. (Assume that both accounts receivable a.....
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Exercise 7-5 (Recognition of Profit for Long-Term Contracts) Andre Agassi Construction Company began operations January 1, 2008. During the year, Andre Agassi Construction entered into a contract with Lindsey Davenport Corp. to construct a manufacturing facility. At that time, Agassi estimated th.....
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E10-12: (Depreciation Computations-SL, SYD, DDB) Montoni Company purchases equipment on January 1, year 1, at a cost of $ 469,000. The asset is expected to have a service life of 12 years and a salvage value of $ 40,000. Instructions Complete the amount of depreciation for each y.....
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Exercise 12-7: Exercise 12-18: Exercise 13-8: Exercise 13-22: Exercise 15-6: Exercise 15-22: .....
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E16-1: (Compensated Absences) Zero Mostel Company began operations on January 2, 2008. It employs 9 individuals who work 8-hour days and are paid hourly. Each employee earns 10 paid vacation days and 6 paid sick days annually. Vacation days may be taken after January 15 of the year following.....
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