Daniel, a certified public accountant, was hired by vast hardware store to
perform an audit on the store's financial statements. in their agreement was a
clause stating that the audited financial statements would be used to obtain
further inventory financing from second bank or another local bank." daniel
completed the audit and issued an unqualified opinion. eventually vast
hardware obtained the financing from sharp national bank - which is another
local bank. unfortunately, daniel had been negligent in conducting the audit,
and the inventory had been greatly overstated. as a result, there was
inadequate collateral for sharp's loan, and when vast hardware went bankrupt
a few months later, sharp bank suffered a loss. under which rule or rules for
accountant's liability to third parties could sharp national bank recover from
daniel? (discuss all rules that may apply)

The winston company estimates that the factory overhead for the following year will be $1,250,000. the company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 50,000 hours. the total machine hours for the year were 54,300. the actual factory overhead for the year were $1,375,000. determine the over- or underapplied amount for the year.

Which is one solution to levy the complexity of the global matrix strategy with added customer-focused dimensions?

Bridgeport company began operations at the beginning of 2018. the following information pertains to this company. 1. pretax financial income for 2018 is $115,000. 2. the tax rate enacted for 2018 and future years is 40%. 3. differences between the 2018 income statement and tax return are listed below: (a) warranty expense accrued for financial reporting purposes amounts to $7,500. warranty deductions per the tax return amount to $2,200. (b) gross profit on construction contracts using the percentage-of-completion method per books amounts to $94,700. gross profit on construction contracts for tax purposes amounts to $67,100. (c) depreciation of property, plant, and equipment for financial reporting purposes amounts to $61,800. depreciation of these assets amounts to $75,700 for the tax return. (d) a $3,600 fine paid for violation of pollution laws was deducted in computing pretax financial income. (e) interest revenue recognized on an investment in tax-exempt municipal bonds amounts to $1,500. 4. taxable income is expected for the next few years. (assume (a) is short-term in nature; assume (b) and (c) are long-term in nature.) (a) prepare the reconciliation schedule for 2017 and future years. (b) prepare the journal entry to record income tax expense for 2017. (c) prepare the income tax expense section of the income statement beginning with “income before income taxes.” (d) determine how the deferred taxes will appear on the balance sheet at the end of 2017.