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We have a separate accounting standard, AASB 138, that specifically deals with intangible assets and it provides different requirements from those for property, plant and equipment (the rules for which appear in AASB 116). what is it about intangible assets that require them to have a separate accounting standard? do you think the differences in requirements are logical?
How much warranty expense is reported for January 2011? What is balance of the Estimated Warranty Liability account as of December 31, 2010?
Pisa Pizza Parlor is investigating the purchase of a new $45,000 delivery truck that would contain specially designed warming racks. The new truck would have a six-year useful life. It would save $5,400 per year over the present method of delivering ..
Gourmet Specialty Coffee Company (GSCC) is a distributor and processor of different blends of coffee. The company buys coffee beans from around the world and roasts, blends, and packages them for resale. GSCC currently has 12 different coffees that i..
Is it possible to write about that how much value do you think auditors really add to the financial reporting process? In other words, are the auditors really doing what the public thinks they are doing? If no, what's the fix, eliminate auditing or d..
Prepare a general ledger using T accounts. Enter the opening balances in the ledger accounts as of July 1 - Journalize the transactions, including explanations and Post to the ledger accounts
Prepare a schedule to determine the total gain resulting from the forgiveness and restructuring of debt and the amount of future interest expense assuming (a) a nonbankruptcy approach and (b) a bankruptcy approach to the reorganization.
How many shares must be sold to bet $30 million? What are ABC's total costs for the IPO?
In January 2012, Wallace, Inc. acquired a 25% interest in Minaj, Inc. for $1,750,000, giving Wallace significant influence over Minaj. Any excess of purchase price over book value was considered goodwill
Calculate the degree of operating leverage at sales of $77,807,000 if (1) Olin Beauty uses sales agents, and (2) Olin Beauty employs its own sales staff. (Round answers to 2 decimal places, e.g. 10.50.)
What is a partnership interest? What rights does it confer to the partner? What are inside basis and outside basis, and why are they important?
Laura’s Dress Delivery operates a mail-order business that sells clothes designed for frequent travelers. It had sales of $580,000 in December. Because Laura’s Dress Delivery is in the mail-order business, all sales are made on account. Determine the..
We have a separate accounting standard, AASB 138, that specifically deals with intangible assets and it provides different requirements from those for property, plant and equipment (the rules for which appear in AASB 116). What is it about intangible..
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