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On December 31, 2007, Filmore Company granted some of its executives options to purchase 50,000 shares of the company's $10 par common stock at an option price of $50 per share. The options become exercisable on January 1, 2008, and represent compensation for executives' services over a three-year period beginning January 1, 2008. The Black-Scholes option pricing model determines total compensation expense to be $300,000. At December 31, 2008, none of the executives had exercised their options. What is the impact on Filmore's net income for the year ended December 31, 2008 as a result of this transaction under the fair value method?
a. $ 100,000 increase
b. $ 0
c. $ 100,000 decrease
d. $ 300,000 decrease
During the year, Oscar travels from Raleigh to Moscow (Russia) on business. His time was spent as follows: 2 days travel (one day each way), 2 days business, and 2 days personal. His expenses for the trip were as follows (meals and lodging reflect..
Record the depreciation for the one-half year prior to the sale, using the straight-line method.
Which one of the following varies between the equity, initial value and partial equity methods of accounting for an investment in a subsidiary?
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You are a senior auditor working on a client who holds a large portfolio of mortgage obligations. Due to the soft housing market, the client has established a fairly significant loan loss reserve.
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