Brief Exercise 11.1 Alpha Company Stockholders Equity section of the Balance Sheet Issued and outstanding common stock (10‚000 * 10) 100‚000 Additional paid-in capital (10‚000 * 3) 30‚000 Total paid-in capital 130‚000 Retained Earnings 75‚000 Total Stockholder Equity 205‚000 Brief Exercise 11.2 Beta Company Stockholders Equity section of the Balance Sheet Issued and outstanding common stock (10‚000 * 25) 250‚000 Issued and outstanding preferred stock (10‚000 * 100) 100
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Chapter 1 CA 1-1 · GAAP is the term used to indicate the whole body of FASB authoritative literature. True · Any company claiming compliance with GAAP must comply with most standards and interpretations but does have to follow the disclosure requirements. False This statement is false because the companies they not only have to comply with most GAAP standards and interpretations but also have to follow the disclosure requirements. · The primary governmental body that has influence over
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Pr. 23-128—Statement of cash flows (indirect method). The net changes in the balance sheet accounts of Keating Corporation for the year 2011 are shown below. Account Debit Credit Cash $ 82‚000 Short-term investments $121‚000 Accounts receivable 83‚200 Allowance for doubtful accounts 13‚300 Inventory 74‚200 Prepaid expenses 17‚800 Investment in subsidiary (equity method) 20‚000 Plant and equipment 210‚000 Accumulated depreciation
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FINANCIAL ACCOUNTING I COURSE DESCRIPTION/OBJECTIVES The primary aim of Financial Accounting is to provide students with an introduction to the process and function of financial reporting. Whilst a large proportion of the course is aimed at understanding accounting as a process‚ taking a preparers‟ perspective‚ we will also seek to develop an understanding of the importance of the role of accounting in today’s society. LEARNING OUTCOMES After studying this course the student will be able to understand:
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The term of creative accounting refers to select accounting methods for the preparation of financial statement that provide the result desired by the accounting preparers. Especially when the firms are under a financial difficulty‚ the need of creativity would be very apparent because it might be difficult for parties such as auditors‚ with an oversight function‚ to report that the account preparers are doing anything wrong (Deegan‚ 2010). When the economy is moving into recession‚ the most companies
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TEST BANK CHAPTER 1 Intercorporate Investments: An Overview MULTIPLE CHOICE Use the following information on a company’s investments in equity securities to answer questions 1- 4 below. The company’s accounting year ends December 31. | |Date of acquisition|Cost |Fair value |Date sold |Selling price | |Investment | | |12/31/10 | |
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FINANCIAL REPORTING STANDARD FRS 12 Income Taxes This version of the Financial Reporting Standard does not include amendments that are effective for annual periods beginning after 1 January 2013. FRS 12 CONTENTS Paragraphs INTRODUCTION IN1 OBJECTIVE SCOPE 1 DEFINITIONS 5 Tax base 7 RECOGNITION OF CURRENT TAX LIABILITIES AND CURRENT TAX ASSETS 12 RECOGNITION OF DEFERRED TAX LIABILITIES AND DEFERRED TAX ASSETS 15 Taxable temporary differences
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Comprehensive School Guidance Program Paper Amber Hall SC543/University of West Alabama Comprehensive School Guidance Program Introduction The implementation of a comprehensive school guidance program is important to the success of counselors and other staff members as well as for the students. It is a support system led by the counselor for students and other programs throughout the school. By assessing the needs of the students‚ a guidance plan can be put in place that creates a successful educational
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customers has vastly increased making it much more difficult to keep track of the finance and performance. This is where accounting plays its role of systematically recording‚ reporting and analysing the financial transactions of a business. This essay aims to compare and contrast the roles and responsibilities of a management accountant with that of a financial accountant. Accounting allows a company to analyse the financial performance of a business and represent its position through past and future
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of the Marcos land reform plan paved the way for the initiation of the Comprehensive Agrarian Reform Program in the Spanish agricultural sector‚ during the Presidency of Aquino. In fact‚ this formed one of the major points against Marcos‚ emphasized during the Presidential campaign of Aquino. In other words‚ the introduction of the Comprehensive Agrarian Reform Program had an underlying political motivation. The Comprehensive Agrarian Reform Program (CARP) was a land reform law mandated by Republic
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