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Apply underlying accounting concepts, assumptions, and principles) Identify the accounting concept, assumption, or principle that best applies to each of the following situations:
a. Wendy’s, the restaurant chain, sold a store location to Burger King. How can Wendy’s determine the sale price of the store—by a professional appraisal, Wendy’s cost, or the amount actually received from the sale?
b. inflation has been around 5.5% for some time. Lake Carolina Realtors is considering measuring its land values in inflation-adjusted amounts.
c. General Motors wants to determine which division of the company—Chevrolet or GMC—is more profitable.
d. You get an especially good buy on a computer, paying only $500 when it normally costs $1,200. What is your accounting value for this computer?
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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