Please analyze the following transactions using the accounting equation, Then
prepare the B/S and I/S.
1. Owner invested 30,000 cash to establish Co.JJ.
2. JJ Co. sold $50,000: 30,000 cash sales and 20,000 credit sales.
3. JJ's expense is 10,000 p
Accounting Cycle Project - Solid Footing 5e
Project is Activated
Before you begin working on your project,
save your activated project by following the directions in the Saving Your Project box.
You will be re
Running head: U.S. GAAP AND IFRS CONVERGENCE
U.S. GAAP and IFRS Convergence
Dara Vers Forster
15-FL Principles of Accounting 1
St Thomas University
Professor Krzysztof Bryniuk
U.S. GAAP AND IFRS CONVERGENCE
What is the impact of the US GAAP and IRS co
After reading the article, the fact that the auto industry is expected to have more change in the next 5-10
years than it has seen in the past 50 does not surprise me. In the last decades, all of our innovative
breakthroughs have been technological orient
1) The alternative minimum tax is the
excess of the tentative minimum tax
amount over the regular tax amount.
Page Ref.: C:5-2
2) Corporations cannot use the
installment method in calculating
alternative minimum taxable income
1. The recognized gain is the real value of the land. In this manner, the gain is the FMV of
the land minus the land subject to liability. This will result in a real value of 30,000
($56,000 - $26,000 = $30,000). With the real value, we subtract the adjus
Dr. Mark A. Turner
The Cameron School of Business at University of St. Thomas
1. Course Information
Course Title: Managerial Accounting; Course number: 5313; Course Sections: 2099
Credit Hours: 3; Semester: Spr