general. • Prepare to update your instructor on your team’s progress on Learning Team assignments. a) The Straight-Line 2800/4 = 700 The arithmetic sequence: 700‚ 700‚ 700‚ 700 4(2800)/10 = 1120 ‚ 3(2800)/10 = 840 ‚ 2(2800)/10 = 560 ‚ 1(2800)/10 = 280 Arithmetic sequence: 1120‚ 840‚ 560‚ 280 The value of the computer drops $2800 in 4 years (from $3000 to $200). So in turn using the straight-line method this is $700 per year since 2800/4 = 700. The sequence of depreciation amounts is listed in
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could be dramatically altered by the events and transactions that occur after year end. If subsequent events are not given proper consideration‚ the financial statements that are issued at year-end may be misleading. Accounting Standards Codification (ASC) 855 provides guidance on the proper accounting for and disclosure of subsequent events. Due to the potential impact subsequent events may have on the financial statements‚ accountants must give consideration to events and transactions that occur after
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Psychology chap 1 notes Consciousness What is consciousness? . The awareness of our internal and external environments is an ever-changing array of thoughts‚ feelings and sensations known as consciousness. . Your consciousness consists of all the thoughts‚ feelings‚ sensations‚ perceptions and memories you are aware of at any given moment‚ you can also manipulate your consciousness very easily. . Consciousness is personal because it consists of your understanding and perceptions of the world
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allow a sale if the fixed price received for the repurchased receivable is a fair value for the price of the receivables at the time of the sale. The following are examples of the application of effective control principles for sale accounting: ASC 860-10-55-31: Judgment is necessary to determine whether a requirement to obtain the transferor’s permission to sell or exchange should preclude sale accounting. For example‚ in certain loan participation agreements involving transfers of participating
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Memo Date: July 15‚ 2015 To: M International From: Team 17 Re: Accounting for a Loss Contingency for a Verdict Overturned on Appeal M International and W Inc. have been engaged in long-standing litigation over a specific patent infringement matter. Pertains to the accounting for this contingency loss‚ this memo has made the following conclusions: 1. For the year-end December 31‚ 2007‚ financial statements‚ M should record $17 million as a liability. 2. M should adjust its liability for the year-end
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in the ASC? According to the Notice to Constituents (v4.7)‚ the “topics” used in the ASC includes General Principles (Topic Codes 105-199)‚ Presentation (Topic Codes 205-299)‚ Assets (Topic Codes 305-399)‚ Liabilities (Topic Codes 405-499)‚ Equity (Topic Codes 505-599)‚ Revenue (Topic Codes 605-699)‚ Expenses (Topic Codes 705-799)‚ Broad Transactions (Topic Codes 805-899)‚ and Industry (Topic Codes 905-999). e. Are SEC references included in the ASC? SEC references are included in the ASC. According
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Situation Overview Discussion Points Options Recoverability Test: Accounting Guidance Impairment Loss Calculation: Accounting Guidance Additional Accounting Guidance Recoverability Test and Calculation of Impairment Loss Alternative Analysis Summary and Recommendations Appendix Operates one cruise ship that is financed with nonrecourse debt. Decline of 30% in cash flow due to presence of pirates. Financial position as of December 31‚ 2010 ($ in millions) • • • • • Cruise
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An unconscious person will die without constant care. Yet‚ as crucial as consciousness is‚ we can’t really explain how it occurs. On the other hand‚ we can identify various states of consciousness and explore the role they play in our lives. This is especially true of sleep and dreaming‚ two states that psychologists have studied in detail. This first module introduces a number of altered states of consciousness and provides a guided tour of sleep and dreaming. To be conscious means to be aware
Free Mind Consciousness
| |Debit | |Credit | |Apr. 4 | |Merchandise Inventory | |120 | | 840 | | | | | |Accounts Payable | |201 | | | | 840 | | | | | | | | | | | |
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benefits if employees are terminated.” The December 31‚ 2005 in this case is the date that all employees were e-mailed of plan’ terms‚ which therefore should be treated as communication date. 2. One-time Employee Termination Benefits. According to ASC 42010-25-4‚ “An arrangement for one-time employee termination benefits exists at the date the plan of termination meets all of the following criteria and has been communicated to employees (referred to as the communication date): a. Management‚ having
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