Earthquake damage costs in income statement

Assignment Help Accounting Basics
Reference no: EM13152068

Assume that you are the controller for Carter hawley hale stores. The Chief financial office of Carter Hawley Hale stores has asked you to prepare a short memo from giving your recommendations as to the proper reporting of the earthquake damage costs in the income statement for the year ending august 4, 1990.

Reference no: EM13152068

Questions Cloud

How many moles of nh3 will be formed : Nitrogen and hydrogen gases are combined at high temperatures and pressures to produce ammonia, NH3. If 104.7 g of N2 are reacted with excess H2, how many moles of NH3 will be formed?
Determine the distance between two atoms : In the first step of the trypsin mechanism, the side-chain oxygen of Ser 195 attacks the carbonyl carbon of the substrate. Use PyMOL and your model of the enzyme substrate complex to determine the distance between these two atoms.
Explain what is the average power : what is the average power (energy per unit time) in units of watts (1W = 1J/s) associated with such a pulse? b. How many photons are emitted in such a pulse?
Plot the levels and first differences of lnrgdp : Plot the levels and first differences of lnrgdp and lnrstockval and briefly comment on the graphs and obtain and comment on the variance decompositions for 24 periods ahead based on the original ordering of the variables.
Earthquake damage costs in income statement : Prepare a short memo from giving your recommendations as to the proper reporting of the earthquake damage costs in the income statement for the year ending august 4, 1990.
Advantages and disadvantages of banks offering : What are the advantages and disadvantages of each bank's offering? Which bank and cash management service would you choose? Why? How can using a bank's cash management service reduce opportunity cost for a health care organization?
What generalization can you make asd to the relationship : What generalization can you make asd to the relationship between marginal revenue and elasticity of demand? Suppose the marginal cost of successive units of output was zero.
What is the molality of a solution : what is the molality of a solution of 10g benzophenone and 1mL of cyclohexanone
Calculate the amount of heat required : calculate the amount of heat required to vaporize 8.48g of water at its boiling point

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Calculate the company times interest earned ratio

A company's income before interest expense and income taxes in 2010 and 2011 is $225,000 and $200,000, respectively. Its interest expense was $45,000 for both years. Calculate the company's times interest earned ratio for both years, and comment o..

  Salvage value at the end of service life

The equipment is estimated to have a $5,000 salvage value at the end of its 10-year useful service life.

  What is the cost of goods manufactured

The materials inventory increased from the beginning to the end of the period by $12,000, while the work in process inventory decreased from the beginning to the end of the period by $5,000. What is the cost of goods manufactured?

  Cumulative effect of the accounting change

On December 31, 2008, Kean Company changed its method of accounting for inventory from weighted average cost method to the FIFO method. This change caused the 2008 beginning inventory to increase by $420,000. The cumulative effect of this accounti..

  What is a complete liquidation

What is a complete liquidation? A partial liquidation? Explain the difference in tax treatment accorded these two different events. Also, provide specific examples.

  Bond issue at the time of sale problem

The bonds were quoted at 94 and pay interest quarterly on September 30th and December 31st. What were the total proceeds of the bond issue at the time of sale?

  Which of the following statements is not accurate

Which of the following statements is not accurate?

  Violation of the partnership agreement

How might a partner withdrawing in violation of the partnership agreement and without the consent of the other partners be treated? What about a partner who is forced to withdraw?

  Profit equation of hockory cabinet and furniture company

The hockory Cabinet and furniture Company makes chairs. The fixed cost per month of making chairs is $7,500, and the variable cot per chair is $40. Price is related to demand according to the following linear equation.

  Continuous cycle-managerial accounting

Define planning, organizing, and controlling and then explain why the phases of planning, organizing, and controlling are referred to as a continuous cycle?

  How might that business be operated

Generally, companies follow one of two broad strategies: offering a quality product at a low price, or offering a unique product or service priced higher than the competition. Assume you are opening a small food outlet across the street from your cam..

  Sale of land on consolidated net income

In 2011, P Company sells land to its 80% owned subsidiary, S Company, at a gain of $50,000. What is the effect of this sale of land on consolidated net income assuming S Company still owns the land at the end of the year?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd