Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
A recent annual report of H. J. Heinz Company includes the following note:
Depreciation: For financial reporting purposes, depreciation is provided on the straight-line method over the estimated useful lives of the assets, which generally have the following ranges: buildings--40 years or less; machinery and equipment--15 years or less; computer software--3-7 years; and lease hold improvements--over the life of the lease, not to exceed 15 years. Accelerated depreciation methods are generally used for income tax purposes.
a. Is the company violating the accounting principle of consistency by using different depreciation methods in its financial statements than in its income tax returns? Explain.
b. Why do you think that the company uses accelerated depreciation methods in its income tax returns?
c. Would the use of accelerated depreciation in the financial statements be more conservative or less conservative than the current practice of using the straight-line method? Explain.
Please describe the procedure used in either case and do you think there was sufficient internal control to prevent improper claims?
Quick Finance assessed a finance charge of 6% of the total accounts receivable factored and retained an amount equal to 2% of the total receivables to cover sales discounts.
Determine the stakeholders impacted by audit reports. Analyze the impct of audit reports for each category of stakeholders.
If 15,000 units of the part are normally purchased during the year but could be manufactured using unused capacity, what would be the amount of differential cost increase or decrease from making the part rather than purchasing it?
The Word for the study of Values in Philosophy is "Axiology," which has the same root as "Axiom" in mathematics. In Axiology, however, values are studied as to what motivates, inspires, of is responsible for human decision making.
Suppose you have been employed into a new firm to oversee the accounting department. Explain what type of financial reports would you expect to see in your department?
Prepare a journal entry for carlton company sells office equipment on sept.2007, for $21,000 cash. the office equipment originally cost $72,000 and as of Jan.1 2007 had accumulated deprication of $42,000. Depreciation for the first 9 months of 200..
when a company applies the partial equity method in accounting for its investment in a subsidiary and initial value, book values, and fair values of net assets acquired are all equal, what consolidation worksheet entry would be made?
Total 2008 gift of life insurance policy is 72,000. annual exclusions are 24,000 (two donees at 12,00). Current taxable gifts equal 48,000.
Decide if either of these actions is warranted in your particular case and state why you think that way.
(a) Common stock of E Company (10% ownership) held as available-for-sale securities, cost $120,000, fair value of $115,000 & (b) common stock of F Company (30% ownership) cost $215,000, equity of $250,000. Prepare the investments section of the ba..
Using information from the latest financial statement, compute operating leverage, ROI, EVA and another performance measure for SIRI (SiriusXM)
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd