reorganizations: The term control means the ownership of stock possessing at least 80% of the total combined voting power of all classes of stock entitled to vote and at least 80% of the total number of shares of all other classes of stock of the corporation. 3. ASC 845-10-30-3 Nonmonetary Transactions: A nonmonetary exchange shall be measured based on the recorded amount of the nonmonetary asset(s) relinquished‚ and not on the fair values of the exchanged assets‚ if…..the transaction lacks commercial substance
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Introduction Autistic Spectrum Condition (ASC) is a developmental condition‚ which is characterised by difficulties in social interaction‚ social communication and rigidity of thought; referred to as the ‘triad of impairments’ as defined by Wing and Gould in 1979. More often children with autism will also have additional difficulties‚ thus further compounding the already profound impact on the family. The impact of having a child with autism varies from family to family‚ however it generally
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Computers (CC) and there is an obligation that CIC‚ the wholly owned subsidiary of CC‚ could reinsure the extended warranty risk of the third party transaction then I believe that CC is the primary obligor. Now as for how the recognition is handled‚ ASC 605 talks about accounting for warranties. It states that “sellers of extended warranty or product maintenance contract have an obligation to the buyer to perform services throughout the period of the contract.” Basically this means that revenue should
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FASB Codification Research Project #1 (a) Briefly describe how pension gains and losses are accounted for. According to FASB ASC 715-30-35: 35-21 Gains and Losses Gains and losses that are not recognized immediately as a component of net periodic pension cost shall be recognized as increases or decreases in other comprehensive income as they arise. Accounting for plan terminations and curtailments and other circumstances in which recognition of gains and losses as a component of
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Bear Minimum The lease of a combustion turbine by Big Bear Power from Goliath Co includes three provisions that we must examine to determine whether they should be included in the “minimum lease payment” as defined in ASC 840. Provision 1 This provision involves Big Bear paying $500‚000 to its external counsel‚ and $1 million of legal fees to Goliath Co. The $1 million fee to Goliath Co. should be included in the minimum lease payment. This is supported by 840-10-25-6 which states: Fees
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purchase from Clean Air Corp as an Investing Cash Flow as in the balance sheet the company considers the EAs as elusive assets. Elusive assets are distinct in ASC 350-10-20 as assets and not included in financial assets. The EAs is granted to the Polluter Corporation from government that certainly considers as elusive assets by the Corporation. ASC 230-10-20 indicates that Investing activities include making and collecting loans and
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CHAPTER 2 REPORTING INTERCORPORATE INVESTMENTS AND CONSOLIDATION OF WHOLLY OWNED SUBSIDIARIES WITH NO DIFFERENTIAL ANSWERS TO QUESTIONS Q2-1 (a) An investment in the voting common stock of another company is reported on an equity-method basis when the investor is able to significantly influence the operating and financial policies of the investee. (b) The cost method normally is used for investments in common stock when the investor does not have significant influence and for investments
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0M $0 $0 $0 $0 $1.0M These events indicate that the carrying amount of the asset group may not be recoverable and‚ therefore‚ Smooth Sailing will test the asset group for recoverability and potential impairment in accordance with ASC 360-10 as of the end of the
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CASE STUDY: CHAPTER 3 & 4 SUBMITTED BY: DOMINGUEZ‚ Phoebe Rosemina U. CHIO‚ Jessa M. LU‚ Keith Japheth OCAMPO‚ Patricia Therese V. PANGAN‚ Charity U. SUBMITTED TO: MR. ANTHONY AGUELO December 9‚ 2014 CHAPTER 3 CASE Use the multiattribute model of evaluation to develop a strategy for reselling the better-grade fabric as the best choice for the new auditorium seating. Product Information Characteristics Higher-grade Nylon Velvet Lower-grade Vinyl Fabric Useful
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MKT 315-04: The Marketplace and Consumers – Fall 2013 Course Syllabus Day/Time: Mondays and Wednesdays 12:00PM – 1:15PM Classroom: LBC 014 Required Text: Marketing: An Introduction‚ (2013) 11th ed. by Gary Armstrong and Philip Kotler. Pearson ISBN: 978-0-13-274403-4 Resources All materials are posted on BlackBoard Instructor Lee D. Goldring‚ MBA Mobile /Text 321-578-9288 E-mail lgoldrin@stetson.edu Office Phone 386-822-7432 Office Location LBC 415 Office Hours
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