Ques 1: Considering the facts given in this case‚ I would argue that ASC 470-10 is not applicable in this situation. Product “X” is undeveloped and the status is undetermined‚ therefore‚ payments are not guaranteed through the future revenues of this particular product (ASC 470-10-25-1). Further‚ based on ASC 470-10-25-2‚ these factors do not apply in this case to qualify as a debt. However‚ the facts below would show why it is more appropriate to account for the financing of the research and
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ACCT 410 Project Project ID: 21 xxxxx xxxxxxxxx ACCT 410 Dr. xxxx xxx November 29‚ 2012 Article Summary: Does Professor Quality Matter? Evidence from Random Assignment of Students to Professors. It is a common perception that better education outcomes are achieved through higher-quality teachers. Teacher evaluation measures in education are different at secondary and post secondary levels. Authors argue that these measures can be influenced impacting
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ACCT553 Week 3 Homework – ANDRE SILVA _________________________________________________________ Please provide your answer to each question in the space provided below. When finished‚ submit to the DropBox. Chapter 7 1. In your "own" words‚ please describe what a "Suspended Loss" is‚ how it is generated and when it is becomes deductible. (5 pts) Suspended losses occur when losses from passive activities exceed income from passive activities in a tax year. The excess
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9.3 B Davidson‚ DDS‚ purchased new furniture for its store on may 1‚ 2011. The furniture is expected to have a 10-year life and no residual value. The following expenditures were associated with the purchased: Cost of the furniture …………………………………………………… Freight charges ………………………………………………………… Sales taxes ……………………………………………………………… Installation of furniture ………………………………………………… Cost of repair furniture damaged during installation …………………… $11‚000 375 550 75 400 Instructions a. Compute
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Chapter 1 Ten Principles of Economics Multiple Choice 1. THE ENGLISH WORD THAT COMES FROM THE GREEK WORD FOR "ONE WHO MANAGES A HOUSEHOLD" IS |a. |market. | |b. |consumer. | |c. |producer.
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EVQUES T3 SuB 2011 Key 1. In a recent period 12‚250 units were made and there was a favorable labor efficiency variance of $22‚500. If 41‚000 labor-hours were worked and the standard wage rate was $12 per labor-hour‚ the standard hours allowed per unit of output is closest to: A. 3.19 B. 3.35 C. 3.50 D. 6.00 [pic] AACSB: Analytic AICPA BB: Critical Thinking AICPA FN: Measurement Bloom ’s: Analysis Brewer - Chapter 09 #40 Learning Objective: 3 Level: Hard Source: CIMA
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Essentials of Accounting Week 5 Assignment Chapter 9: E9-6 SY Telc has recently started the manufacture of RecRobo‚ a three-wheeled robot that can scan a home for fires and gas leaks and then transmit this information to a mobile phone. The cost structure to manufacture 20‚000 RecRobo’s is as follows. Cost Direct materials ($40 per robot) $ 800‚000 Direct labor ($30 per robot) 600‚000 Variable overhead ($6 per robot) 120‚000 Allocated fixed overhead ($25 per robot) 500‚000 Total $2‚020
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CASE 5 – Evidence 1. For each of the following specific audit procedures‚ indicate the type of audit procedure it represents: (1) inspection of records or documents‚ (2) inspection of tangible assets‚ (3) observation‚ (4) inquiry‚ (5) confirmation‚ (6) recalculation‚ (7) reperformance‚ (8) analytical procedures‚ and (9) scanning. a. Sending a written request to the client’s customers requesting that they report the amount owed to the client. a. Confirmation i. Existence; trying
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1. What is the defining distinction between for-profit businesses and not-for-profit‚ including governments? What are the implications of this distinction for financial reporting? Governments and not-for-profits provide services that are targeted to groups of constituents who advocate a political or social cause or who carry out research or other activities for the betterment of society. The objectives of governments and not-for-profits cannot generally e expressed in dollars and cents and are often
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COURSE INFORMATION Quarter – Winter 2013 Day/Time – Tuesdays‚ 6:00p.m.-10:00p.m. Instructor – Timothy E. Carr‚ CPA Instructor Email: timothy.carr@strayer.edu Instructor Phone: 901-359-8408 Instructor Office Hours – By Appointment COURSE DESCRIPTION This course provides a framework for financial accounting concepts and practices used by internal and external users in businesses. Topics presented include the accounting cycle‚ financial reporting‚ financial
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