If an early detection and diagnosis of melanoma can be made‚ we can have a greater survival rates close to 100% (ASC‚ 2016). Prognosis can become considerably worse if detection of the melanoma is not found until later stages of progression. For this reason‚ it is useful to encourage monthly accurate assessments of the skin‚ so if suspected early intervention can
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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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1. If 5 times the value of a number is increased by 3‚ the result is 28. What is the number? 5x+3=28 5x=25 x=5 The answer is 5 2. If 4 times the reciprocal of a number is 3 more than 5/2 times the reciprocal of that number‚ find the number. 4*(1/x)=(5/2)*(1/x)+3 4/x=(5/2x)+3 (8/2x)=(5/2x)+3 (8/2x)-(5/2x)=3 (3/2x)=3 x=1/2 The answer would be x=1/2 3. John had $30‚000 to invest. He invested part of this money in bonds paying 12% annual simple interest and the rest of the money in a savings
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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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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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for this exercise. (See page 707 as an example) Tax Pennsylvania Maryland Difference Property 2231.25 3240 1008.75 Sales 840 960 120 State Income 50000 65000 15000 Penn: $50‚000 Maryland: $65‚000 Income tax: 3% Income tax: 4.5% Prop tax : 3.5% Prop tax: 4% Sales tax 6% Sales tax: 7% Home: $75000 Home: $135‚000 Sales tax: 24‚000x0.035 = $840 24‚000x0.040= $960 Income tax: 50‚000*0.03 = $1500 65‚000*0.045=$2925 Assssed value: 75000*0.85 = $63750 135000*0.60=$81000
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