User Account

All Pages

Basic assumption of accounting

Assignment Help Accounting Basics
Reference no: EM13513807

Identify which basic assumption of accounting is best described in each item below.

(a) The economic activities of FedEx Corporation are divided into 12-month periods for the purpose of issuing annual reports.

(b) Solectron Corporation, Inc. does not adjust amounts in its financial statements for the effects of inflation.

(c) Walgreen Co. reports current and noncurrent classifications in its balance sheet.

(d) The economic activities of General Electric and its subsidiaries are merged for accounting and reporting purposes.

Reference no: EM13513807

Questions Cloud

Determine whether such costs should appear : Determine whether such costs should appear as charges in the income statement for the current period.
What is the magnitude of the net change in entropy : A heat engine operates between a high-temperature reservoir at670K and a low-temperature reservoir at 320 K. What is the magnitude of the net change in entropy as a result of this cycle
Explain the decomposition of hydrogen peroxide : The decomposition of hydrogen peroxide can be catalyzed by iodide ion. The catalyzed reaction is thought to proceed by a two step mechanism.
What is the average voltage induced as the flux is changing : A 200-loop coil of cross sectional area 8.5 cm2 lies in the plane of the paper. Directed out of the plane of the paper is a magnetic field of 0.06 T. What is the average voltage induced as the flux is changing
Basic assumption of accounting : Identify which basic assumption of accounting is best described - The economic activities of FedEx Corporation are divided into 12-month periods for the purpose of issuing annual reports.
Find the angular frequency of simple harmonic motion : A horizontal plank of mass m and length L is pivoted at one end. The plank's other end is supported by a spring of force constant k. Find the angular frequency (omega) of simple harmonic motion
How to prepare a statement of cash flows for the year : Prepare a statement of cash flows for the year ended December 31, 2011, using the indirect method.
Different transactions related to materiality : Different transactions related to materiality. Explain whether you would classify these transactions as material.
Find the total force required to open the door : An aircraft door closes by pushing it inside the airplane first. We will assume P = 0 outside the aircraft, and P=0.9 atm inside during flight. what is the total force required to open the door while in flight

Reviews

Write a Review

Accounting Basics Questions & Answers

  Net assets of the acquired company

Net assets of the acquired company are revalued to their fair value and any excess of consideration transferred over fair value of net assets is allocated to goodwill.

  Determining unamortized bond discount

Moon uses the effective interest method of amortizing bond discount. Interest is payable annually on June 30. At June 30, 2004, Moon's unamortized bond discount should be

  Amount of dividends common shareholders

The shareholders' equity of Green Corporation includes $200,000 of $1 par common stock and $400,000 of 6% cumulative preferred stock. The board of directors of Green declared cash dividends of $50,000 in 2011 after paying $20,000 cash dividends in..

  Daba company manufactures two products product f and

daba company manufactures two products product f and product g. the company expects to produce and sell 1420 units of

  Post the transactions to t-accounts and determine each

selected transactions for the joel berges company are presented in journal form below.dateaccount titles and

  Prepare a balance sheet

prepare a Balance Sheet, given details attached below,  Acid Test Ratio : 2.5,  Current Ratio : 1.5, Net working capital Rs. 10, 00,000, Fixed Assets ?, Share holders fund Rs. 15, 00,000, Stock\ Inventory ?

  Calculate the dollar amount of ending inventory

Calculate the dollar amount of ending inventory shown on ABCCompany's May 31 balance sheet using the FIFO method. Do not use decimals in your answer.

  Determine the contribution margin in dollars

Determine the contribution margin in dollars, per unit and as a ratio. Using the contribution margin technique, compute the break-even point dollars and in units. Compute the margin of safety in dollars and as a ratio.

  Effect on company overall net operating income

Further investigation has revealed that $144,000 of the fixed manufacturing expenses and $93,000 of the fixed selling and administrative expenses are avoidable if product U23N is discontinued. What would be the effect on the company's overall net ..

  Standard deviation and capm beta estimates

Standard  deviation and capm beta estimates

  Requirement 1 in millions 2011 2012 2013contract price 340

requirement 1 in millions 2011 2012 2013contract price 340 340 340actual costs to date 70 150 200estimated costs to

  Capital asset acquisition

In its Statement of Net Assets, a government reported: Assets of $90 million, including $30 million in capital assets (net) and liabilities of $50 million, including long-term debt of $15 million, all related to capital asset acquisition.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd