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How realistic do you feel the criteria are for determining whether a lease is "capital" or "operating"? Can't a lease just be negotiated at 79% of the economic life, or 89% of the present value of payments? Has FASB taken any action to address this issue?
Describe how investors report investments in equity securities when investor has controlling influence over an investee. (US GAAP)
The ledger of Elburn Company at the end of the current year shows Accounts Receivable $110,000, Sales $840,000, and Sales Returns and Allowances $28,000.
Goodwill arises when one firm acquires the net assets of another firm and pays more for those net assets than their current fair value. Suppose that Got Em Co. had operating income of $64,300 and net assets with a fair market value of $184,000. Ta..
Allison is the sole shareholder of Destiny Corporation, which operates a travel agency for business travelers. Allison would like the corporation to donate some used computers to a local private school dedicated to the education of young ladies.
Describe how the authoritative literature addresses comprehensive income. Describe three classifications within net income and give an example of each. Describe three classificiations within other comprehensive income and give an example of each.
Describe the process of selecting and evaluating a sample. Why is sampling important to business? Are there situations in business where sampling would not be effective?
Big Brother Holdings, Inc. had the following available-for-sale investment portfolio at January 1, 2002. Prepare journal entries for each of the above transactions.
Prepare all appropriate journal entries relative to uncollectible accounts and bad debt expense. Show the year-end balance sheet presentation for accounts receivable.
Examine the sources of pressure that change and influence the development of GAAP. Determine the sources of pressure that have the greatest impact. Justify your rationale.
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.
What are some of the advantages and the disadvantages of database forms? What is your experience in using Queries? Have you ever read the SQL commands generated by a Query in Access database?
Marketing share of mechanical watches where at an all time low of 5%. Research so far has indicated that the watches tend to fail three tests frequently and you need to recommend machines that need to be upgraded because they may be responsible fo..
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