Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - Ethics Challenge - Flo Choi owns a small business and manages its accounting. Her company just finished a year in which a large amount of borrowed funds was invested in a new building addition as well as in equipment and fixture additions. Choi's banker requires her to submit semiannual financial statements so he can monitor the financial health of her business. He has warned her that if profit margins erode, he might raise the interest rate on the borrowed funds to reflect the increased loan risk from the bank's point of view. Choi knows profit margin is likely to decline this year. As she prepares year-end adjusting entries, she decides to apply the following depreciation rule: All asset additions are considered to be in use on the first day of the following month. (The previous rule assumed assets are in use on the first day of the month nearest to the purchase date.)
1. Identify decisions that managers like Choi must make in applying depreciation methods.
2. Is Choi's rule an ethical violation, or is it a legitimate decision in computing depreciation?
3. How will Choi's new depreciation rule affect the profit margin of her business?
On January 1, 2017, Cecilia Company purchased a patent from an original patentee for P2,400,000. What is the carrying amount of the patent on December
identify three major accounting issues on which ifrs and us gaap currently differ.for each outline the nature of the
The reconciled cash balance from June's bank reconciliation is $18,920. Determine the cash balance per Southco Limited books
What is the distinction between service and merchandising companies? What is the distinction between merchandising and manufacturing companies? What is the distinction between retail and wholesale merchandising companies?
S&J Plumbing, Inc.'s 2010 income statement shows a net profit before tax of $468, whereas the balance sheet that the company's equity for the fiscal year-end 2010 is $1,746. Calculate the company's return on equity and explain whether the managers..
Explain why any proposed process change requires cost estimating. In your opinion, determine whether or not cost estimating is a critical part of analyzing.
Heartland Company's budgeted sales and budgeted cost of goods sold for the coming year are $144,000,000 and $99,000,000 respectively.
There are two basic dimessions to an organizations culture concern for people and concern for performence. What are the four organizational cultures
what does the fasb do in order to assess possible benefits and costs of a proposed revision of an accounting
Calculate the value of the investment of Lovren Ltd disclosed in the consolidated financial statements as at 30 June 2020. Show your workings
On January 1, 20X1, Bravo Company borrowed $24,000 to purchase equipment. Need Journal entry for Dec 31
Ryan contributes land with an adjusted basis of $10,000 and a fair market value of $21,000. What is Ryan recognized gain or loss on the contribution
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd