Accounting Information Systems
Accounting Information Systems
9th Edition
ISBN: 9781133934400
Author: James A. Hall
Publisher: Cengage Learning
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Chapter 17, Problem 6P
To determine

Explain potential risks to Company BLC and determine the course of action of the external auditor.

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Can you solve this general accounting problem with appropriate steps and explanations?
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Patricia receives $65,000 worth of Nextech, Inc., common stock from her uncle's estate. Early in the year, she receives a $320 cash dividend. Three months later, she received a 3% stock dividend. Near the end of the year, Patricia sells the stock for $68,500. Due to these events only, how much must Patricia include in her gross income for the year?
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