Reference no: EM132714680
Question: Answer the following questions. Please type using a word processing program and bring a printed copy to class. Try as much or as little as you feel necessary to answer each question to the best of your ability. You may use all available resources to solve case - e.g., lecture slides, notes, your book, and the Accounting Standards Codification. Collaboration with others in your group is allowed to the extent that it is helpful. How you work together is up to you - however, I encourage everyone in the group to take at least some part for every question. Please turn in only one finished assignment for each group. Use appropriate citations where relevant and according to your professional judgment. For questions requiring use of the codification, please use the following style:
1) Cite the ASC down to the paragraph. For example, (ASC 330-10-05-01)
2) Copy-paste the paragraph you cite from the codification into the word document. This is what I demonstrated in class. 3) Interpret the codification paragraph into 'plain English' as best you can. In other words, how would you explain the appropriate accounting treatment to a colleague, boss, or business partner who has a basic understanding of accounting?
You may (and are encouraged to) use debits and credits or "T-accounts" to illustrate the accounting if appropriate.
Request: You join the accounting department of a major tech firm after graduation and are asked to assist in preparing end of year adjusting entries to prepare the firm's financial statements for the end of the fiscal year. One major item you discover is a large part of the firm's compensation expense is for stock grants and restricted stock units (RSUs). You are unsure how to account for these and so turn to the codification for guidance. What is the accounting for these forms of compensation and how are they presented on the financial statements?
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What amount is jodie allowed to contribute to her roth ira
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What is first five years of depreciation using straight line
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How would you explain the appropriate accounting treatment
: In other words, how would you explain the appropriate accounting treatment to a colleague, boss, or business partner who has a basic understanding of accounting
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Prepare adjusting entry to accrue estimated warranty cost
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Calculate the transaction price for the contract
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