Identify the entries associated with acquisition‚ disposal‚ and sales of plant assets. Distinguish between tangible and intangible assets. Differentiate between accounts payable‚ notes payable‚ and accrued expenses. Calculate depreciation and amortization expense using various methods. Distinguish between revenue and capital expenditures‚ and the entries associated with each. Business - Accounting ACC 291 All Week 2 Assignments - Individual WileyPlus assignment
Premium Depreciation Balance sheet Accounts receivable
lessee. c 29. Knowledge of the capitalization criteria. d 30. Components of minimum lease payments. d 31. Identification of executory costs. c 32. Discount rate used by lessee. a 33. Depreciation of a leased asset by lessee. b 34. Effect of a capital lease on lessee’s debt. a P35. Depreciation of a capital lease. a 36. Identification of lease type for lessor. d 37. Elements of lease receivable by lessor. a 38. Recognition of unearned lease income. c S39. Direct-financing lease
Premium Lease Depreciation Finance lease
Lecture 1 – Corporate Financial Reporting and Revision LECTURE OUTLINE Outline the nature and characteristics of companies Describe the sources of corporate financial reporting in Australia Identify which entities need to prepare financial reports that comply with accounting standards Account for share issues and dividends Account for asset revaluations and asset impairment Nature of Companies Type of organization established under the cooperation’s act 2001 Legal capacity and powers
Premium Balance sheet Generally Accepted Accounting Principles Depreciation
| Ruckman‚ Inc.: Converting from U.S. GAAP to IFRS | ACTG 4240 – Assignment #4 | | Fannie Fang‚ Yingqi Gu‚ Ya Wang | 1/24/2013 | | Ruckman Part I Solutions Page 1. For each of the 16 items listed below‚ briefly describe the difference in GAAP treatment and IFRS treatment. Just start with this form and type in your responses in the appropriate cells. You don’t need to give too much detail‚ just enough so your client can tell the difference. 2. In the “Needed to Convert
Premium Depreciation Balance sheet Generally Accepted Accounting Principles
Contents Introduction1 Fundamental Analysis1 Prospect Analysis3 Financial Analysis4 Investment Analysis4 Operating Policy7 Conclusion8 Appendix Introduction Ocean Carrier Inc. owned and operated cape-size dry bulk carriers worldwide. Major Cargo type is iron ore and coal. Vessel sizes are 80‚000 DWT to 210‚000 DWT. Cape-size carriers travel around Cape Horn rather than the Panama Canal due to size constraints. The cargo operations include maintenance‚ repairs‚ insurance‚ supplying of
Premium Supply and demand Ship Depreciation
ACC3120 Advanced financial accounting Week 11 Tutorial: Extractive Industries 1 HPHAH‚ chapter 20‚ question 1 Outline the five phases of a company’s operations in the extractive industries. Answer: It has been suggested that there are five identifiable phases in the discovery and recovery of minerals‚ oil and natural gas. Four of these phases are “pre-production” phases‚ which means that they occur before production begins. The pre-production phases are exploration‚ evaluation‚ development and
Premium Asset Depreciation Mining
2 3 4 5 6 7 8 9 mental Earnings Forecast ($000s) Sales of Mini Mochi Munch 9‚000 7‚000 Other Sales 2‚000 2‚000 Cost of Goods Sold (7‚350) (6‚050) 3 4 5 6 Gross Profit 3‚650 2‚950 Selling‚ General & Admin. (5‚000) - Depreciation - - 7 8 9 EBIT (1‚350) 2‚950 Income tax at 35% 473 (1‚033) 10 11 Unlevered Net Income (878) 1‚918 7-9. Elmdale Enterprises is deciding whether to expand its production facilities. Although long-term
Premium Depreciation Stock
A311: Final Exam Review Chapter 10 1. Interest Capitalization Delmar Corporation borrowed $200‚000 at 12% interest from state Bank on January 1‚ 2013‚ for the specific purpose of constructing special-purpose equipment to be used in its operations. Construction on the equipment began on 1/1/13‚ and the following expenditures were made prior to the project’s completion on 12/31/13: Expenditures Made in 2013 January 1 $100‚000 April 30 150‚000 November 1 300‚000 December 31 100‚000 Total Expenditures
Premium Depreciation Asset
What is a rights issue? Distinguish between a renounceable and a non-renounceable rights issue. How would a company account for such issues? A rights issue is an issue of new shares to existing shareholders whereby they are given the right to purchase additional shares in proportion to their current shareholdings. Usually the issue price is set below the current market price of the company’s shares. A renounceable rights issue allows the shareholder to take up the rights issue‚ let it lapse
Premium Stock market Depreciation Stock
Questions for Chapter 6 **ANSWERS ARE HIGHLIGHTED 1. A truck was purchased for $25‚000. It has a six-year life and a $4‚000 salvage value. Using straight-line depreciation‚ what is the asset’s carrying value (book value) after 2 years? d. $18‚000. 2. The sale for $2‚000 of equipment that cost $8‚000 and has accumulated depreciation of $6‚700 would result in what reflected in the income statement? d. loss of $1‚300. The following information pertains to the next two questions. Z Company
Premium Depreciation Generally Accepted Accounting Principles Expense