Chapter 15 Leases AACSB assurance of learning standards in accounting and business education require documentation of outcomes assessment. Although schools‚ departments‚ and faculty may approach assessment and its documentation differently‚ one approach is to provide specific questions on exams that become the basis for assessment. To aid faculty in this endeavor‚ we have labeled each question‚ exercise‚ and problem in Intermediate Accounting‚ 7e‚ with the following AACSB learning skills: Questions
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final exams. I personally do not think that it will be helpful to do additional practice questions‚ but it is up to you (2 copies of the solution manual to the textbook are on reserve at the Rotman library). 5. The exam will not ask questions directly about the cases or assigned readings in the course package. However‚ you are expected to be able to apply the concepts you learned from those readings and cases to other settings. 6. You will need to know both IFRS and U.S. GAAP‚ as discussed
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5 PROBLEM 28. Y‚ an S corporation formed at the beginning of the year‚ has the following information in its first year: Gross Income from services $100‚000 Net short-term capital loss (2‚200) Salary paid to F (10‚000) Medical insurance premium for F (300) Other operating expenses (54‚000) Cash distributions to F 5‚000 F‚ a 50 percent owner of Y‚ is single and has no other tax information. F’s A.G.I. is a. $21‚900 b. $26‚750 c. $26‚900 d. $35‚700 e. Some other amount‚ which is $_________
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[APC309 STRATEGIC MANAGEMENT ACCOUNTING Individual Assignment : Task a and Task b ] Table of Contents Part a 1.0 Introduction to performance management …………………………………………………………………………….2 2.0 EVA and ROI ……………………………………………………………………………………………………………………………2 3.0 Mangers orientation due to using EVA and ROI……………………………………………………………………….3 4.0 Overcoming the short term nature of EVA and ROI………………………………………………………………….4 5.0 Appendix…………………………………………………………………………………………………………………………………8 Part b 1.0 Introduction
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own accounting books and have chosen the appropriate method of revenue recognition based on their operations. | | | | Pat’s Electronics Division | | | | | Pat’s Electronics Division sells computers through agents in various cities. Agents send orders and down payments to our company. The division then ships the goods F.O.B. shipping point directly to the customers. Revenue is recognized at the point of sale. | | | | | | | Additional Financial Data: |
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after deducting cost of sales from net sales. B. A measure of profitability after deducting cost of sales and all expenses incurred in operating the business from net sales. C. A measure of liquidity after deducting cost of sales from net sales. D. The equivalent of net sales 2-35. Which of the following would not tend to make a manufacturer choose a perpetual inventory system? A. Management wants information about quantities of specific products. B. A low volume of sales transactions and a computerized
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Chapter 2—The External Environment: Opportunities‚ Threats‚ Industry Competition‚ and Competitor Analysis TRUE/FALSE 1. The health-related concerns in the general environment facing Philip Morris International are part of the physical segment. ANS: F PTS: 1 DIF: Medium REF: 36 OBJ: 02-01 TYPE: comprehension NOT: AACSB: Ethical & Legal understanding | Management: Ethical Responsibilities | Dierdorff & Rubin: Managing the task environment 2. The external environment facing business stays relatively
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Consignment Accounting Journal Entries: Learning Objectives: 1. Make journal entries in the books of consignor and that of consignee. As the goods sent on consignment by the consigner are not his sales‚ he must not record consignment as sales and the consignee must must not record them as purchases. Theconsigner should not take up any profit on the transaction until the goods have been actually sold by the consignee. Since the goods still belong to the consignor‚ any unsold goods in the hands
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of the Pinnacle-Financials Excel file. Use the income statement information to prepare a common-size income statement for all three years. Use the information to identify accounts for which you believe there is a concern about material misstatements. Use a format similar to the following: Estimate of $ Amount Account Balance of Potential Misstatement e. Use the three divisional income statements in the Pinnacle-Financials Excel file on the Web site to prepare a common-size income
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External Users of Accounting Data Accounting data is important to the many stakeholders of a business. By analyzing the data‚ stakeholders can determine many things about a business‚ including its profitability‚ current cash position‚ whether it might be able to repay loans‚ and much more. Users of accounting data fall into two categories: internal users‚ and external users. Internal users of accounting data are actually employed within the business‚ and use the data to “plan‚ organize
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