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The mini-case writing format is the database research strategies listed on page 64 (step 1- define the information needed, step 2- determine the sources to search, step 3- use appropriate search methods, step 4- view the results and manage the information, step 5- communicate the search results) of the textbook. For each mini-case, document Steps One - Five and upload to the Case 2 Assignment Dropbox by November 4th. Step Two is done for you because the only allowed source is the FASB Codification.
Your write-up should be concise enough to allow me to see the answer without having to search but complete enough that I know you did the steps. Step One is important; if you skip ahead to Step Three it will show in your write-up.
Bo Broker Company charges a fee for bringing together the Acme Construction Company and the First Bank Company. The parties agree that Bo earns her fee when Acme and First "agree" to the terms of the construction mortgage. However, Bo can receive four types of documents to "settle" this matter: (a) a non-interest bearing, unsecured "negotiable" note in payment of the fees earned, which is payable over the time period of the related construction mortgage; (b) a non-negotiable note payable over the same time period as in case (a); (c) a commitment letter, not contingent upon the "future event" of the borrower receiving certain construction draws; or (d) a commitment letter, where the fees would be paid only if the borrower actually receives the draws for the construction from the lender. Bo asks the accountant when to recognize revenues under each of these four scenarios.
What is an example of a significant accounting estimate? What is the importance of these estimates? How do ethics play into the decision-making process? Which financial statements include significant accounting estimates? Why?
Lampley, Inc. enters into a direct finance lease agreement as lessor on January 1, 2001, to lease an airplane to National Airlines. The term of the noncancelable lease is eight years and payments are required at the end of each year.
Please provide an explanation of the strengths and weaknesses of the internal controls related to the payroll cycle.
Prepare a paper which examining a business problem and opportunity confronting your organization that you feel could be addressed through the application of business research principles by performing the following:
The coupons expire on December 31, 2012. There were 45 million coupons redeemed in 2011, and 30 million redeemed in 2012.What was General's coupon promotion expense in 2011?
On August 1, it reissued the remaining treasury shares at $49 per share. What is the balance in the Paid-in Capital, Treasury Stock account on August 2?
A company anticipates a taxable cash expense of $50,000 in year 2 of a project. The company's tax rate is 30% and its discount rate is 14%. The present value of this future cash flow is closest to ??
Attaached PELARSON CASE SOLUTION, looking for general case analysis with- background information, issues and problems, ananlysis and conclusion. about 12 pages double spaced
Alvin owned a building located in Kansas that he rented to a local business-Alvin built a new building at a cost of $400,000. What is Alvin’s realized gain (loss) on this transaction?
The shareholders equity section of Rowen Company shows: Common stock $1,500,000; paid-in capital in excess of par value of $1,000,000;
This is a tax research problem - Clyde had work for many years as the chief executive of Red Industries, and had also been a major shareholder. Clyde and the company had a falling out, and Clyde was terminated.
Shipyard Corp. acquired Boatworks Corp. in a Type A reorganization on October 19, 2011. On the date of acquisition, Boatworks had a deficit in its earnings and profits of $30,000.
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