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Erin Company purchased land and a building on January 1, 2012. Management's best estimate of the value of the land was $100,000 and of the building $250,000. However, management told the accounting department to record the land at $230,000 and the building at $120,000. The building is being depreciated on a straight-line basis over 20 years with no salvage value. Why do you suppose management requested this accounting treatment? Is it ethical?
1 how can purchasing help to reduce cycle time?2 how can more innovation from suppliers be achieved? what is
Fairmont Inc. uses an accounting system that charges costs to the manager who has been delegated the authority to make decisions concerning the costs.
In a business combination accounted for as an acquisition, how should the excess of fair value of identifiable net assets acquired over implied value be treated?
Admission/Withdrawal of Partners
What are examples of irregular items? How does a change in accounting principles affect the financial statements? Who in the organization is responsible for the application of a change in an accounting principle? Why?
video toys manufacturers and sells arcade games. dividends are currently 1.50 per share and are expected to grow at a
The Fair Debt Collection Practices Act has four different types of collection practices. Explain who the legislation applies to and explain the four different collection methods.
Compute the change in operating income if liberty company eliminates Dept. C and doubles the sales in Dept. T without increasing fixed costs.
1. discuss the various depreciation methods. which is the most accurate? why?2. discuss the accounting for investment
What are the tax consequences of these transactions for Barney and Wilma?
Calculate the initial return earned by investors who are allocated shares in the IPO. What is the total cost ( underwriting fee and underpricing) of this issue to WCMC?
Prepare the appropriate journal entry to record the June purchases of shares under the employee share purchase plan.
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