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A company's portfolio of available-for-sale securities consists of the common stock of one company. At the end of the prior year, the fair value of the security was 50% of original cost, and this reduction in fair value was reported as an other than temporary impairment. However, at the end of the current year the fair value of the security had appreciated to twice the original cost.
Instructions: What is the effect upon carrying value and earnings for the situation above?
What should an accountant do if the guidance for a particular transaction or event is not specified within the FASB ASC?
Bob has 2,000,000 of shoes in stock that cost $12 per pair. You are also able to determine the following amounts: Calculate the value of the inventory under both IFRS and US GAAP.
In 2009, Magic Table Inc. decides to add a 36-month warranty on its new product sales. Warranty costs are tax deductible when claims are settled. In its financial statements for 2009, Magic Table Inc incurs:
dollar general corporation operates approximately 9400 general merchandise stores that feature quality merchandise at
wayne cos production plan for 5000 units of production provided for 25000 of direct labor 35000 of direct materials and
You recently invested $12,000 of your savings in a security issued by a large company. The security agreement pays you 7 percent per year and has a maturity two years from the day you purchased it.
determine the basic and diluted earnings per share for company x.nbspnbspall necessary information is listed
1. accounting methods used by a company to determine income for financial reporting purposes frequently differ from
Write a 700- to 1,050-word paper in APA format comparing and contrasting the different types of accounting, namely accrual, cash flow, and fund accounting.
keenan computer chips inc. is experiencing a period of rapid growth. earnings and dividends are expected to grow at a
the following is a list of activities that occur for a company that sells many different types of products. please
The process by which accounting standards has evolved over time worldwide differs significantly from country to country based on many factors.
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