Training and capitalized the entire amount

Assignment Help Accounting Basics

Reference no: EM13259566

In 2009, a GenX, Inc. spent $500,000 on training and capitalized the entire amount, intending to write it off over 5 years. This accounting treatment is:

a. correct.

b. incorrect. The company should treat the entire amount as an expense in 2009.

c. incorrect. The company should record the expenditure as an asset.

d. incorrect. GAAP requires that all training costs be written off over 40 years.

Reference no: EM13259566

Questions Cloud

Determine the total current supplied by the system : Determine the total current supplied by the system and when there is a Y connected capacitor to the bus and the phase impedance of the capacitor is 5 with an angle of -90 degrees (5

Incremental analysis for the special order : Prepare an incremental analysis for the special order. Should Pro Sports Inc. accept the special order? Explain your answer.

Dependent to qualify as an exemption : In order for a dependent to qualify as an exemption, he or she must. be married. b.receive more than one half of his or her support from the taxpayer. be under age. d. be registered in school. e. be a relative.

Explain what would be the effect on your calculated mass : what would be the effect on your calculated mass percent recovery of Cu if you used all of your NaOH solution in Part II and the litmus paper never turned blue

Training and capitalized the entire amount : In 2009, a GenX, Inc. spent $500,000 on training and capitalized the entire amount, intending to write it off over 5 years. This accounting treatment is:

What stock price is expected one year from now : The dividend is expected togrow at a constant rate of 6 percent a year. What stock price is expected 1 year from now? What is the required rate of return?

How much will the hospital need to charge : How much will the hospital need to charge per patient day tobreak even at this level of activity?

Explain how do the two graphs compare if the frequency : How do the two graphs compare if the frequency factor of the second reaction is higher than the frequency factor of the first reaction but the two reactions have the same activation energy?

Operation management and financial management : Select two user groups of financial statements and discuss their reasons for using financial statement analysis. Distinguish between operation management and financial management.

User Account

All Pages