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Prior to GAAP for equity method investments, firms often used the cost method to account for their unconsolidated investments in common stock regardless of the presence of significant influence. The cost method employed the cash basis of income recognition. When the investee declared a dividend, the investor recorded "dividend income.
The investment account typically remained at its original cost - hence the term cost method. Many firms' compensation plans reward managers based on reported annual income. How might the cost method of accounting for significant investments have resulted in unintended wealth transfers from owners to managers? Do the equity or fair-value methods provide similar incentives? Explain. In your own words please.
preston concrete is a major supplier of concrete to residential and commercial builders in the pacific northwest. the
sachs brands defined benefit pension plan specifies annual retirement benefits equal to 1.5 times service years times
As a result, the bank decided that the loan was impaired. If the loss is estimated to be $225,000, what entryies should National American Bank make to record this loss?
The Bird Toy Company manufactures a line of dolls and a doll dress sewing kit. Demand for the dolls is increasing, and management requests assistance from you in determining an economical sales and production mix for the coming year.
Explain how organizations in the not-for-profit sector differ from organizations in the public sector or for-profit business sector. Provide an example of an entity in each sector.
A U.S. manufacturer has sold goods to a foreign firm for a sale price of 80,000 FC on 12/15/X1. The invoice is due 1/15/X2. The U.S. Firm fiscal year is 12/31/X1. Given the following exchange rates, what gain or loss would the U.S. firm record on ..
Assume this company uses the FIFO method of process costing and direct material is added uniformly throughout the process. What are the equivalent units produced of direct material?
Assume that on December 1, 2010, your company borrowed $14,000 a portion of which is to be repaid each year on november 30.
What is the total estimated cost for 2,600 machine hours using the high-low method to estimate the cost equation?
Denard has a desired ending balance of shoes on hand equal to 10% of the following month's expected shoe sales. On December 31, Denard had 5,000 shoes in stock.
A company changes from percentage-of-completion to completed-contract, which is the method used for tax purposes. The entry to record this change should include a :
Now that she is selling mixers and her customers can use credit cards to pay for them, Natalie is thinking of upgrading her website so that she can sell mixers online, to broaden her range of customers. She will need to known how to account for th..
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