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What are the different methods used to calculate depreciation? How does a company decide which method to use? How does its choice affect the financial statements? Should companies standardize the method of depreciation to enhance comparability? Explain your answer.
What is the purpose of depreciation? Does the book value of a fixed asset--cost minus accumulated depreciation--communicate to a user what the asset is worth? Explain why or why not.
Should the financial statements reflect the value of fixed assets? Explain why or why not.
Why does the federal government allow for accelerated depreciation of fixed assets even when the useful life and utility of the assets clearly align more to straight-line depreciation? Explain.
What is an intangible asset? Why are some intangible assets not amortized? What is the implication to the financial statements?
Why are research and development costs expensed? Is this consistent with how other similar costs are handled? Explain why or why not.
Indicate whether independence is impaired for the individual or the public accounting firm on the following SEC filing audits according to SEC independence rules.
What are the major advantages besides disadvantages of each of the four types of auditing careers? What other kinds of auditing careers are available to those who are qualified?
What is the relationship between inventory and cost of goods sold by a pharmacy or medical supply business? Explain the depreciation concept. What items in a physician practice can be depreciated? What is the purpose?
Padre, Inc., buys 80 percent of the outstanding common stock of Sierra Corporation on January 1, 2015, for $802,720 cash. At the acquisition date, Sierra's total fair value, including the non-controlling interest, was assessed at $1,003,400 although ..
Calculate the carrying amount and the tax base for plant and computers as at 30th June 2015 and calculate the total temporary
1.define and explain the importance of the three parts to the definition of a liability.2.discuss the significance and
Determine the maximum utilization of days per 1,000 members that the nursing home can experience before it begins to lose money
Sooner Company has had a net income of $6,200, $4,800, $9,300, and $10,300 over the first four years of the company's existence. If the average annual amount of dividends paid over the last four years is $3,000, what is the ending retained earnings b..
For the assembly department unit material cost is $18 and unit conversion cost is $12 . If there are 50,000 units in ending work in process 35% complete as to conversion costs and 75% material cost, what is the cost assigned to the ending inventory?
Prepare the sales portion of the entry for this sale on Janet's books and Prepare the cost of sales portion of the entry for this sale on Janet's books
The following information was drawn from the records of Paso & Associates at December 31, 2012. Cash Flows From Operating Activities $ Cash Flows From Investing Activities Cash Flows From Financing Activities Net Change in Cash Ending Cash Balance $
Account payable R29 150, Account Receivable R296 111, Annual sales R5 330 000, Cost of sales R2 660 000, Current assets R750 000, Current liabilities R310 000, Earnings R443 000, Inventory R533 000, Long term assets R430 000, Number of shares 49 961,..
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