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1. What is the benefit of reporting liabilities between current and non current?How about contingencies (law suite for example)? What is the accounting treatment for contingencies?
2. How do we calculate the market value of a bond?
3. In connection with the issue of bonds at a premium or a discount, what does the term carrying value of bonds mean? What would the carrying value be at maturity date?
Discuss the positives and negatives of affirmative action in general and whether you agree or disagree with the specific findings of the case.
A mining company declared a liquidating dividend. the journal entry to record the declaration must include a debit to:
A company's income before interest expense and income taxes in 2008 and 2009 is $225,000 and $200,000, respectively. Its interest expense was $45,000 for both years. Calculate the company's times interest earned ratio, and comment on its level of ..
when long-lived assets are purchased with a loan, can a company report the net difference between the cost of the asset and the mortgage liability against the asset, instead of reporting the two amounts separately on the balance sheet?
The atomic weight of a newly discovered el-ement is 10.600 amu. It has two naturally occuring isotopes. One has a mass of 10.000 gms and a natural abundance of 70.000%. What is the isotopic mass of the other isotope?
Identify the authoritative literature that addresses disclosure of information about capital structure. What information about securities must companies disclose? Discuss how Hincapie should report the proposed preferred stock issue.
Before the current year, the company accounted for its income from long-term construction contracts on the completed-contract basis. Early this year, the company changed to the percentage-of-completion basis for accounting purposes but continues t..
Explain what is meant by "Restricted Stock Units (RSU)” and provide extracts of the disclosure notes for 2 public companies that have these, noting any distinguishing features between the 2 companies’ RSU plans.
Calculate the heat released when 2.82 L of Cl2(g) with a density of 1.88 g/L reacts with an excess of sodium metal at 25°C and 1 atm to form sodium chloride.in kJ
Recently, the company is considering increasing its advertising by $50,000 in order to sell more car parts. How many additional parts must the company sell in order to justify the increased advertising costs?
If a stockholder receives a dividend that reduces retained earnings by the fair market value of the stock, the stockholder has received a
Explain this type of revenue recognition transaction, and what factors should be considered in determining when to recognize revenue in this transaction?
Why is cost accumulation simpler in a process costing system than it is in a job-order costing system?
A number of specific transactions do not necessarily follow the general tax provision applicable to property transactions. Following are a group of transactions that are subject to specific tax provisions. For each of the situations, you are to an..
Winfrey Co.'s March 31 inventory of raw materials is $ 150,0000. Raw materials purchases in April are $ 400,000, and factory payroll cost in April $220,000.
During the year, Krisiten holds two jobs. After an eight-hours day at the first job, she works three hours at the second job. On Fridays of each week, she returns home for dinner before going to the second job.
Kentucky Enterprises purchased a machine on January 2, 2010, at a cost of $120,000. An additional $50,000 was spent for installation, but this amount was charged erroneously to repairs expense. The machine has a useful life of five years and a sal..
A savings account was opened for a baby on 1985 with a $100 deposit. No withdrawls or deposits occurred since the account was opened. The current balance of the account is $246.47.
Describe the following terms and their relative importance to stock issues: IPO, underwriter, spread, prospectus, underpricing.
If the price per unit differs from the standard price per unit for direct materials, the variance is:
Would your answer in (a) change if 100% of the amount received from Blue was spent annually in carrying out Service's tax-exempt mission.
A method of estimating bad debts expense that involves a detailed examination of outstanding accounts and their length of time past due is the:
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