E12-1 (Classification Issues—Intangibles) Presented below is a list of items that could be included in the intangible assets section of the balance sheet. 1. Investment in a subsidiary company. 2. Timberland. 3. Cost of engineering activity required to advance the design of a product to the manufacturing stage. 4. Lease prepayment (6 months’ rent paid in advance). 5. Cost of equipment obtained. 6. Cost of searching for applications of new research findings. 7. Costs incurred in the formation
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On October 1‚ Keisha King organized Real Answers‚ a new consulting firm; on October 3‚ the owner contributed $84‚000 cash. On October 31‚ the company’s records show the following items and amounts. Cash $ 11‚360 Cash dividends $ 2‚000 Accounts receivable 14‚000 Consulting fees earned 14‚000 Office supplies 3‚250 Rent expense 3‚550 Land 46‚000 Salaries expense 7‚000 Office equipment 18‚000 Telephone expense 760 Accounts payable 8‚500
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computed results of your exam. Grades for essay questions‚ and comments from your instructor‚ are in the "Details" section below. Date Taken: 1/16/2015 Time Spent: 1 h ‚ 45 min ‚ 15 secs Points Received: 73 / 90 (81.1%) Question Type: # Of Questions: # Correct: Multiple Choice 6 3 Essay 4 N/A Grade Details - All Questions Page: 1 2 Question 1. Question : (TCO F) Computing unit product costs involves averaging in Job-Order Costing Process Costing A Yes No B Yes Yes C No Yes
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Question 1 (25 marks) Several accounting standards include ceiling tests (also called impairment tests). Required: a. What is a ceiling test? Identify two IASB accounting standards that contain a ceiling test and describe the test. (7 marks) The ceiling test is an accounting standard that stipulates that capital assets such as property‚ plant and equipment must be written down if their net carrying value exceeds the net recoverable amount. This is to prevent overvaluation of capital assets
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Ethics in Public Administration: Week 2 Assignment Case Study 1 Isabel Carter PADM505 October 19‚ 2014 Kennedy Maranga Dennis the city Manager is working late and he catches his new Budget Director Susan in a compromising situation with the Assistant City Manager. The employee policy prohibits this type of behavior between their employees. According to the City Code of Ethics this type of behavior is unacceptable and calls for dismissal. Ethics is not the act of controlling co-workers behavior
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ACCT 6015 PROJECT 1: UNDER ARMOUR PRANIL BALRAM NAZAR BASHAMOV SAM LEE MATT STIMSON KEITA TAKARADA 18 NOVEMBER 2014 1. We chose to study Under Armour because of their explosive growth over the last five years in a very competitive industry. From a marketing standpoint‚ it is quite apparent that the company is doing well and one could assume that because the firm appears to have had great success in aggressively expanding their market share‚ they are by extension creating value for investors
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Topic 1 Introduction UBEQ 2013 Basic Econometrics January 2015/16: Week 1 1 1.1 What is Econometrics? Econometrics is an amalgam (a mixture) of (i) economic theory‚ (ii) mathematical economics‚ (iii) economic statistics‚ and (iv) mathematical statistics. UBEQ 2013 Basic Econometrics January 2015/16: Week 1 2 1.2 Why Econometrics? Economic theory makes statements or hypotheses that are mostly qualitative. Example: In theory of demand‚ a reduction in the price of a commodity is expected to
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Hayley Wicks ACCT 540 Week 4: Course Project (Case 1) Typically‚ hedging strategies are implemented as a means of protection. The dictionary tells us that hedging strategies involve making counterbalancing investments in order to avoid a loss. With regards to the futures market‚ hedging strategies involve a position in the market that is the opposite of an entity’s current position. Any gain or loss in the cash market is usually followed by a counterbalanced effect in the futures market since the
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ACCT 2332 Managerial Accounting Instructor Dr. Michael Yampuler E-mail: myampuler@uh.edu Office: 380K MH Managerial accounting helps managers make decisions A company manufactures a cell phone. It uses machines‚ engineers‚ utilities‚ supervisors etc. How much is the cost of one phone? How much should we sell it for? A footwear company manufactures dress shoes‚ casual shoes‚ and sandals in the same factory. Sandals do not seem to sell well enough. Is it beneficial to discontinue
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Chapter 1. 5. What does the statement “costs can be assets or expenses” mean? 6. Why are the salaries of production workers accumulated in an inventory account instead of being expensed on the income statement? 7. How do product costs affect the financial statements? How does the classification of product cost (as an asset vs. an expense) affect net income? ATC 1-1 | Business Applications Case | Financial versus managerial accounting | The following information was taken from the 2008
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