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What is the purpose of depreciation? Does the book value of a fixed asset, cost minus accumulated depreciation, communicate to a user what the asset is worth? Should the financial statements reflect the value of fixed assets?
What are the different methods used to calculate depreciation? How does a company decide which method to use? How does its choice affect the financial statements? Should companies standardize the method of depreciation to enhance comparability?
Discuss the proper accounting treatment of $273,000 ($714,000 − $441,000) by which the cost of the first machine exceeded the cost of subsequent machines.
Generally Accepted Accounting Principles (GAAP) is based on accrual accounting. Define and describe accrual accounting and provide examples
Your father runs a small auto body shop. He has decided to computerize his records and has asked you to explain the basics of accounting to him so that he can enter the data into his accounting software.
The firm uses the effective interest method of amortising discounts and premiums. The bonds were sold to yield an effective interest rate of 10%.
Evaluate the equivalent units of production for each cost element in the Creation Dep. for the month just ended. Find out the average cost per equivalent unit for each cost element.
Using the information, prepare an income statement and a balance sheet for the Parsons Corporation.
Conduct an analysis of recent article and provide their evaluation and outcome expectations in written paper of 1500-2500 words that discusses:
A corporation issues $2,000 Shares of common stock for $32,000. The stock has a stated value of $10 per share. The journal entry to record the stock issuance would include a credit to Common Stock for
A preliminary analytical review of the company's most recent balance sheet and income statement
What financial factors should management consider when deciding whether to sell a product at the split off point or process it further?
BunaBuna has been growing at a 15 percent annual rate and is expected to continue to do so for 3 more years. At that time, growth is expected to slow to a constant 4 percent rate.
What are the major objectives of financial reporting? Who are the users of financial reporting? What type of information will each user group need? Why?
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