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What is an intangible asset? Should all intangible assets be subject to amortization? Explain why or why not. Why are some intangible assets not amortized? What is the implication to the financial statements?
Conduct online research for a large company to see if you can find their code of conduct. What influence do you believe these codes of conduct have on the decision-making behavior of their members or employees?
Manufacturing overhead is allocated to products based on the number of machine hours required. In a year when 20,000 machine hours were anticipated, costs were budgeted at $125,000.
Provide and show all answers and step by step work to obtain the answer, not skipping any steps. Show all equations, acronyms (ie ETC, ACWP, etc), and if applicable, a description of how you came to the answer.
Discuss the allowance method and the direct write-off method of accounting for bad debts. When is the expense for uncollected accounts receivable recognized under each method? Respond to at least two of your classmates' postings.
Fiduciary funds are accounted for differently than permanent funds, even though both may account for nonexpendable resources.
A company produces and sells pillows. It expects to sell 10,000 pillows in the year 2012 and had 1,000 pillows in finished goods inventory at the end of 2011.
There are four steps in the auditor's process of understanding internal control and assessing control risk for a public company. The first step is to obtain and document an understanding of internal control: design and operation. What are the rema..
Depreciation is recorded on a straight-line basis at end of each fiscal year. The useful life of equipment is five years.
Describe the history, current status, and adoption implications of a Financial Accounting Standards Board ongoing project.
A corporation sold land (with an adjusted basis of $240,000) for $200,000 to its majority shareholder. (A) What is the company's recognized gain or loss on the sale?
how much liability for outstanding premiums should be recorded at the end of 2008?
Change of mind gives gallery a $1m surprise' and determine whether the gallery should treat the donation as revenue. Further, if the donation is treated as revenue, how would that revenue be measured?
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