2102 Practice Exam 2 Spring 2007 Name: _________________________________ 1. Sally Inc. has shelving that cost $70‚000 a few years ago. The current book value (carrying value) is $15‚000. They are thinking of selling the shelving in order to renovate the store. If they sell‚ they expect to receive $14‚000 for the shelving. Which of these is TRUE about the shelving? a. The accumulated depreciation at the point of sale will be $41‚000. b. The gain on sale of shelving will be $1‚000. c. The
Premium Depreciation Generally Accepted Accounting Principles Expense
Abstract It is well known that accounting a social science is evolving with the development of society and its progress and advancement‚ and as the community reacts to events and changes in various spheres of economic‚ political‚ environmental‚ re ligious‚ and with the global economic crisis‚ which still affect most sectors of the economy‚ all of these reasons with other of reasons‚ imposed on this social science that is evolving in terms of quality‚ style and methods applied in order
Premium Financial crisis Accountant Economics
associated with the subsidiary’s activities is limited 1-3 Organizational Structure‚ Acquisitions‚ and Ethical Considerations • Manipulation of financial reporting – Usage of subsidiaries or other entities to borrow money without reporting the debt on their balance sheets – Using special entities to manipulate profits – Manipulation of accounting for mergers and acquisitions • Pooling-of-interests 1-4 Business Expansion and Forms of Organizational Structure • Expansion from within:
Premium Generally Accepted Accounting Principles Balance sheet Asset
of Research Paper Through the paper and the information provided by the textbook‚ it is clear that two brief conclusions we can get and explanations will be attached. 1. The financial statement do impact the share price 2. The influence caused by the financial statement is limited. The main reason‚ that financial statement impact the share price‚ is the efficient capital market. Namely‚ the efficient security market will go hand in hand with full disclosure. Once the relevant information provided
Premium Generally Accepted Accounting Principles Annual report Financial statements
About the Companies 1.1 Cerebos Pacific Limited (CPL) Cerebos Pacific Limited (CPL) is a manufacturer and distributor of health supplements‚ Asian and Western food‚ and beverages to market throughout Asia and Australasia. The company’s products include its flagship BRAND’S chicken essence‚ other health supplements‚ coffee‚ sauces‚ canned products and desserts. BRAND’S® will celebrate its 175th Anniversary in 2010‚ with significant milestones underlined by the opening of new state-of-the-art manufacturing
Premium Financial ratios Financial ratio Inventory
Financial Management-Unit 101 Exam Questions 1. What is the role of management accounting? What are the primary difference between management accounting and financial accounting? Management accounting or managerial accounting is concerned with the provisions and use of accounting information to managers within organizations‚ to provide them with the basis to make informed business decisions that will allow them to be better equipped in their management and control functions. According to the
Premium Management accounting
Home work Financial management theory and practice Chapter 3 Page 114 questions :- (3-1) A- Annual report :- it’s a statement that gives an accounting picture of a firms operation and its financial position ‚ there is two types of information are provided in annual report First :- the verbal section witch often represents the firms operation result during the past two years or any period ‚ and discuses new developments that will effect future operation . and explain
Premium Balance sheet Generally Accepted Accounting Principles Asset
calculations automatically and to change single number and update all related numbers at the click of a mouse. As one of the most popular financial software‚ spreadsheet is widely applied in areas such as accounting‚ finance‚ marketing‚ taxation‚ engineering‚ educational‚ scientific and medical fields (Ballantine‚ 1991). In 2004‚ SimCorp USA Inc and the Financial Executives Consulting Group found that about 64 percent of domestic companies depend on spreadsheet. Many authors view spreadsheet as a very
Premium Computer Internet Education
Solutions Ch 3 Balance Sheet 3.22 (Nestlé; asset recognition and measurement.) a. Both U.S. GAAP and IFRS would recognize Investment in Bond (noncurrent asset)‚ CHF800 million. Nestlé would record the bond at acquisition cost‚ not the amount it will receive at maturity. b. Both U.S. GAAP and IFRS would recognize Prepaid Insurance (current asset); CHF240 million would be recorded initially. At Nestlé’s year-end‚ the balance in the Prepaid Insurance account would reflect the two months usage of
Premium Generally Accepted Accounting Principles Depreciation Inventory
The age and sex distribution of the population of Nigeria by the 1991 census is as shown in Table 1.3.2. The data Show a high proportion of children in the population. Those under 15 years of age constituted about 45 per cent of the total population. The proportion of aged persons (60 years and above) in the population constituted only 3.3 per cent. The age structure of the population‚ according to the 1991 census‚ shows a very broad-based pyramid‚ reflecting the large proportion of children and
Free Demography Population