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Let's discuss the various capital budgeting methods most often used, such as the payback method, the accounting rate of return, net present value, and internal rate of return. Which of these methods are discounted and which are not? What are some of the reasons why a company may use discounted versus non-discounted methods on capital decisions?
Discuss the differences between temporary and permanent accounts. What will happen if the temporary accounts like revenue, expense and dividend accounts are not closed in the ledger?
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?
The amount of the proceeds from the issuance that should be accounted for as the initial carrying value of the bonds payable would be.
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:
Jeffery and Cassie, who are married with modified AGI of $90,000, are sending their son to his first year of college. Their total tuition and related payments during 2013 amounted to $5,500.
Create a situation or scenario in which it may be appropriate to recognize revenue as the productive activity takes place. State whether or not there are any other times appropriate for recognizing revenue. Provide a rationale with your response.
All of the following would be entries in assigning accumulated costs to the Work In Process Inventory except:
If economic depreciation refers to diminution in value because of obsolescence, physical wear and tear, technological advances in substitute goods, or changes in consumption behavior.
FOB destination, that will be received by Hastings on January 3. Determine the correct amount of inventory that Hastings should report.
Write a short Memo to a nonfinancial audience explaining how increasing scrutiny and demand for accountability by the public has influenced reporting for not-for-profit and governmental entities.
If a gain of $18,000 is incurred in selling (for cash) office equipment having a book value of $120,000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is:
Distinguish between a defined benefit plan and a defined contribution plan. Why does a defined benefit plan present far more complex accounting issues than a defined contribution plan?
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