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Field Company purchased a warehouse in a downtown district where land values are rapidly increasing. Adolph Phillips, controller, and Wilma Smith, financial vice-president, are trying to allocate the cost of the purchase between the land and the building .Noting that depreciation can be taken only on the building ,Philips favors placing a very high proportion of the cost on the warehouse itself, thus reducing taxable income and income taxes. Smith, his supervisor, argues tential of the warehouse. Besides, she says, net income is negatively impacted by additional depreciation and will cause the company's stock price to go down.
(a)What stakeholder interests are in conflict?(b)What ethical issues does Phillips face?(c) How should these costs be allocated?
Prepare a cash distribution plan as of September 30, 2009, showing how much cash each partner will receive if the offer to sell the assets is accepted.
Describe which net assets are included in each category. Would board-designated net assets be reported as temporary restricted net assets?
Equipment with an estimated market value of 75,000 is offered for sale at 95,000. the equipment is acquired for 30,00 in cash and a not payable of 50,000 due in 30 days the amount used in the buyers accounting records to the acquired asset is what..
The salvage for the existing assets after three years of service is anticipated to be zero. The used machines have no salvage value today in the market place due to their current condition. The desired minimum acceptable rate of return on invested ca..
Greenville Corporation is considering the addition of a new product to its current product lines. The expected cost and revenue data for the new product are as follows:
What are some common implementation issues with activity-based costing systems? How can they be avoided? Provide at least three examples and explain.
Explain the concept of “business ethics”. Critically discuss the term “complex ethical dilemma”. Reviewing the real life situations mentioned in the document Complete Guide to Ethics Management:
Cactus does not make any distributions during 2008, but had $200,000 of ordinary income. In 2009, ordinary income was $100,000 and distributions were $100,000. What is Tex's ordinary income for 2009?
Cully furniture buys 2 products for resale: big shelves (B) and medium shelves (M). Each big shelf costs $500 and requires 100 cubic feet of storage space, and each medium shelf costs $300 and requires 90 cubic feet of storage space.
The call premium would be 5 percent of the face amount. Today 15-year, 5 percent, semiannual payment bonds can be sold at par, but flotation costs on this issue would be 2 percent, or $40,000. What is the net present value of the refunding?
The mean shopping time for the sample of 50 shoppers is 25.36 minutes with a standard deviation of 7.24 minutes. Using the 0.10 level of significance, is there evidence that the mean shopping time at the local supermarket is different from the cla..
Which of the following is not considered "constructive receipt" income in 2010:
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