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Q. Cash equivalents and investments?
Cash as well as cash equivalents consist of cash on hand and marketable securities with original maturities of three months or less.
SFAS 115 necessitate that certain investments in debt and equity securities be classified into one of three categories. Debt securities that the Company has the positive intent as well as ability to hold to maturity are classified as held-to-maturity and reported at amortized cost. Debt securities not categorize as held-to-maturity as well as marketable equity securities are classified as either trading or available-for-sale and are recorded at fair value with unrealized gains and losses included in earnings or stockholders' equity respectively.
What is the implication of applying accounting concepts wrongly?
Wyatt and Truett formed a partnership investing $330,000 and $110,000 respectively. Determine their participation in the year''s net income of $420,000 under the following assumpti
Q. Show Transactions affecting the income statement? To continue to exist a business must be profitable. This signifies that the revenues earned by providing goods and services
Q. Explain about revenue recognition principle? Under the revenue recognition principle revenues must be earned and realized before they are recognized (recorded). Earning of r
Q. Corporate accounting and accounting for sole proprietorship? Several textbook authors use a sole proprietorship and a partnership form of business ownership to exemplify acc
Taxes are affected by the level of economic activity: When output increases, tax revenues typically increase, when output falls, tax revenues fall. Suppose a balanced- budget amend
The CPSdata to re-estimate the difference among average male and female pay. Use for example, the regression LS LNWAGE C FE a. Can you avoid the hypothesis that mean female
Q. Detailed steps for completing the work sheet ? Accountants use these preliminary steps in preparing the work sheet. The following segments describe the detailed steps for com
Oil production has been proposed for an area along the coast off Southern California. Oil production would jeopardize the use of beaches along 10 miles of coast which are a major v
Example of net realizable value? To exemplify a necessary write-down in the cost of inventory presume that an automobile dealer has a demonstrator on hand. The dealer obtained
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