Chapter 2 Lab Intermediate Accounting I (a) The president of Gonzales‚ Inc. used his expense account to purchase a new Suburban solely for personal use. Miscellaneous Expense 29‚000 Cash 29‚000 This in inappropriate based on the economic entity assumption. Economic Entity Assumption states that the economic activity can be identified with a particular unit of accountability. In other words‚ a company
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Algebra Review 1. Evaluate the expression 1 2 17 B) − 2 1 C) 2 17 D) 2 3a + 2b when a = -3 and b = -4. 2 A) − 2. Simplify: A) B) C) D) 17 29 16 30 3+5• 6 −4 3. Simplify: A) 40 B) 18 C) 34 D) 12 Evaluate: 1 7 − 1 5 − 1 5 1 7 6 − 2 • 2 + 25 4. 3x − y if x = 2‚ y = 8‚ and z = –2. 6z − x A) B) C) D) CPT Review 4/17/01 1 5. Simplify: A) B) C) D) –2 2 11 2 11 − 2 14 − 30 2(− 4 ) 6. Use the distributive property to simplify. A) B) C) D) − 4x + 30 −
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17‚ 18‚ 19‚ 22 4‚ 5‚ 6‚ 7‚8 6 5‚ 7 6. 7. 8. 9. 22‚ 23 16‚ 17 24‚ 25 26‚ 28 1‚ 5‚ 7 5‚ 6‚ 7 4‚ 5 10. 11. *12. *This material is dealt with in an Appendix to the chapter. Copyright © 2011 John Wiley & Sons‚ Inc. Kieso Intermediate: IFRS Edition‚ Solutions Manual 16-1 Visit Free Slides and Ebooks : http://downloadslide.blogspot.com ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE) Learning Objectives 1. Describe the accounting for the issuance‚ conversion
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E12-16 E12-1 (Classification Issues—Intangibles) Presented below is a list of items that could be included in the intangible assets section of the balance sheet. 1. Investment in a subsidiary company. …. LT Investment in Balance Sheet 2. Timberland. ……………………………………..… PPE in Balance Sheet 3. Cost of engineering activity required to advance the design of a product to the manufacturing stage. …………R& D Expense in Income Statement 4. Lease prepayment (6 months’ rent paid in advance). …………………………………………………
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COMM 370 – Elena Simintzi Practice for Lecture 1: Basic Financial Analysis Question 1. Consider the following financial statements for SubMart Corp contained in the company’s most recent annual report filed with the OSC. SubMart Corp Balance Sheet‚ December 31‚ 2012 Assets Cash Accounts receivable Inventories Property‚ plant & equipment Less accumulated depreciation Total assets Liabilities & Equity Accounts payable Accrued expenses payable Long-term debt Common stock Retained earnings Total
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MULTIPLE CHOICE—Conceptual 21. Plant assets may properly include a. deposits on machinery not yet received. b. idle equipment awaiting sale. c. land held for possible use as a future plant site. d. None of these answers are correct. 22. Which of the following is not a major characteristic of a plant asset? a. Possesses physical substance b. Acquired for resale c. Acquired for use d. Yields services over a number of years 23. Which of these is not a major characteristic of a plant
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may approach assessment and its documentation differently‚ one approach is to provide specific questions on exams that become the basis for assessment. To aid faculty in this endeavor‚ we have labeled each question‚ exercise‚ and problem in Intermediate Accounting‚ 7e‚ with the following AACSB learning skills: Questions AACSB Tags Brief Exercises (cont.) AACSB Tags 15–1 15–2 15–3 15–4 15–5 15–6 15–7 15–8 15–9 15–10 15–11 15–12 15–13 15–14 15–15 15–16 15–17 15–18
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Intermediate Accounting Project Issue 1(FASB ASC 230-10-50) Some transactions are part cash and noncash; only the cash portion shall be reported in the statement of cash flows. Non-cash activities are reported in the footnotes of the cash flow statement or reported parenthetically MEMO: After researching the proper treatment of this transaction in relation to cash flows‚ I found the following information: • The cash flow statement includes only inflows and outflows of cash and cash equivalents;
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KENYA METHODIST UNIVERSITY END OF 3RD TRIMESTER 2012 (EVENING) EXAMINATIONS FACULTY:SCIENCE AND TECHNOLOGY DEPARTMENT:PURE AND APPLIED SCIENCES UNIT CODE: MATH 110 UNIT TITLE:LINEAR ALGEBRA 1 TIME:2 hours Instructions: Answer question one and any other two questions. Question One (30 marks) Find the determinant of the following matrices. -4 8 (2 marks) 0 1 1 -3 -2 (3 marks) 2 -4 -3 -3 6 +8 Find the values of x and y if:(5 marks) x + 2y 14 = 4
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Illinois Rules of Professional Conduct Rule 1.1 – Competence Provide competent representation Legal knowledge‚ skill‚ thoroughness reasonably necessary Comments Determining whether requisite knowledge and skill exists: relative complexity/specialized nature of matter‚ lawyer’s own training and experience‚ preparation and study time‚ available help Do not need special training or prior experience to handle a new problem – just study up Emergency matters – you can help to the extent reasonably
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