Handout Cases on Revenue Recognition CASE 1 The Sea-Soft Water Company distributes its water softeners to dealers upon their request. The contract agreement with the dealers is that they may have 90 days to sell and pay for the softeners. Until the 90-day period is over‚ any softeners may be returned at the dealer’s expense and with no further obligations on the dealer’s part. If the water softeners are damaged while in the hands of a dealer‚ Sea-Soft agrees to accept the return of the
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MULTIPLE CHOICE 1. The owner’s equity in a business amounted to $56‚000 at the beginning of the year and $100‚000 at the end of the year. The owner had made no additional investments and had withdrawn $19‚000 during the year. The net income for the year amounted to a. $76‚000. b. $67‚000. c. $63‚000. d. $188‚000. ANS: C DIF: Medium OBJ: LO 6-1 MSC: AACSB Analytic 4. Changes in owner’s equity that result from investments or withdrawals of assets by the owner are included in the a. statement
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Social Networking vs. Face to Face Communication With social networking at its peak‚ face to face communication has become scarce in modern society. With sites such as Facebook‚ Twitter and MySpace face to face communication lost its indicative value. Social networking has become so widely spread throughout the world that it has become the primary form of communication. Both face to face communication and social media have limits and boundaries that contribute to their major distinctions. With
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Recognition can be taught through the game`s combination of color‚ counting‚ and progression. The idea of color recognition and the difference between different numbers may seem elementary‚ but that’s because it is. The genius of Candyland is that it`s one of the few board games simple enough that its core components are toddler-age concepts and skills. As professor Remillard said to the Chicago Tribune‚ "Candy Land is a tad slow for adults‚ but preschoolers can’t get enough of this rainbow-bright
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The drug recognition experts(DRE) are certified officers that are trained to determine if drugs are present in the body and if the substance that they have taken impaired them in any way during an incident or altercation. While police and other public service officers are able to perform some tests for alcohol and drug levels. the DRE program investigates whether drugs were involved and what effects they may have caused physically or mentally. By way of the 12 steps of the Drug Recognition Process
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prefer texting nowadays so so face to face communication is really starting to lack in society. Texting is constantly changing our language. The use of abbreviations‚ digits and the general absence of any vowels has changed the way we can communicate with people and how we use the written word by mobile phone. The short talk we have over the phone has affected the way we talk to a person face to face. Due to the rapid expansion of technology‚
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Chapter 2 Overview of the Financial System 2.1 Multiple Choice Questions 1) Every financial market has the following characteristic: A) It determines the level of interest rates. B) It allows common stock to be traded. C) It allows loans to be made. D) It channels funds from lenders-savers to borrowers-spenders. Answer: D 2) Financial markets have the basic function of A) bringing together people with funds to lend and people who want to borrow funds. B) assuring that the swings in the business
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Emotion Recognition in Children with Autism Numerous of studies have been conducted with Autism Spectrum disorder‚ probably the most common research conducted with autism is emotion recognition. Most autistic individuals‚ especially children‚ have trouble recognizing others’ emotions. Most of these researches that have been conducted have used the six basic emotions. The research article I chose “The ‘Reading the Mind in Films’ Task: Complex Emotion and Mental State Recognition in Children with
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MOLECULAR DETECTION OF FUNGAL DISEASES INTRODUCTION With the rise of many new diseases caused due to viruses‚ bacteria and fungi; it is essential for the rapid detection of such diseases. The severity of such diseases can be reduced by its rapid detection carried out by different methods. The conventional methods may include the idea of just identifying the disease symptoms‚ identification of these pathogens in the laboratory by different morphological and biochemical tests‚ etc [1]. The conventional
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#1-E) Experience with Revenue Recognition--- Do you have any experience related to revenue recognition? Surely‚ I do #2-Please read the financial statement analysis case (Merck & Johnson & Johnson) on page 613‚ Chapter 12. Please read the instructions for (a)‚ (b)‚ and (c) and address the three questions that are asked. Case Merck & Johnson & Johnson are two leaders producers of health care products. Each has considerable assets‚ and each expends considerable funds each year toward the development
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