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Changes in accounting policies and estimations
Question 1: True Blue Ltd is reviewing its accounting policies and estimations. Detailed below are its current policies and estimations. Using these current policies, the company's calculated profit figure is $840 000. What would True Blue Ltd's profit be if the alternative accounting policies and estimations are applied?
The XYZ Company needs to acquire a molding machine to be used in its manufacturing process. Two types of machines that would be appropriate are presently on the market. Determine which machine XYZ should purchase. Assume an interest rate of 8% proper..
Mrs. Smith is considering investment in a project with a beta coefficient of 1.35. What would you recommend if this investment has an 11.5% rate of return, risk free rate is 2.5%, and the rate of return on the market portfolio of assets is 8.5%.
Determine the transactions occur for Badger Biking Company during the month of June: Provide services to customers on account for $50,000.
Prepare a list of uncertainties that the CEO faces if she buys the hotel. Prepare a list of uncertainties the CEO faces if she replaces the heart monitors. Which scenario appears to have a greater degree of uncertainty? Why?
If an analysis of the general ledger accounts indicates that equipment, which had cost $168,000 and on which accumulated depreciation totalled $135,000 on the October 1st was sold for $20,000. During 2009 the depreciation on the equipment was $30,000..
Which of the companies uses a multiple-step income statement format? (These companies' income statements are in Appendix A
Acme Company uses a job costing system, and factory overhead is applied on the basis of machine hours. At the beginning of the year, management estimated that the company would incur $1,050,000 of factory overhead costs and use 70,000 machine hours. ..
If the financial statements of a company are misstated, whom do you think the courts and regulatory authorities will hold responsible? What are the possible incentives for managers and directors of companies to take this risk?
Discuss the possible causes of the financial crisis - Do you think GFC could be repeated again and - Explain the scale and impact of financial crisis in economies of different countries including your own country, identify some of proposed reforms.
A company acquired a new piece of equipment on January 1, 2011 at a cost of $200,000. The equipment is expected to have a useful life of 10 years, a residual value of $20,000 and is depreciated on a straight-line basis. At what amount should the equi..
How would the stock dividend be shown in the accounting equation? How many shares of stock are outstanding after the stock dividend?
What amount should be recorded as Bad Debt Expense for the current year?
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