What activities make-up technological feasibility

Assignment Help Financial Accounting

Reference no: EM1376480

1. Your company purchases a different business at a bargain purchase properly accounted for as a business combination. They pay $1,000,000 for net assets that have a fair market value of $1,050,000. You are not certain how to account for difference of $50,000.

2. Your company is preparing computer software which will be sold directly to consumers. What activities make-up technological feasibility to determine which of the costs incurred can be capitalized?

3. Justify why you valued the inventory (goods for resale) at lower-of-cost or-market.

4. As accountant for the Shoe-Horse Casino, you have been asked to evaluate if it is necessary to make an adjustment to the casino's liability account for the outstanding gaming chips if it is believed that some will be unredeemable.

5. What financial instruments (financial assets and financial liabilities) are not eligible for an entity to use fair value option of accounting?

6. Your business has closed for two weeks due to flooding, but fortunately you have business interruption insurance which covers the estimated lost gross margin (profit) due to the flooding. In the period insurance recovery is recognized, what information should you disclose, if any, in notes to the financial statements?

Reference no: EM1376480

Questions Cloud

Payment in kind program : In 1983 the Reagan Administration launched a new agricultural event called the Payment-in-Kind (PIK) program. Keeping this event in mind suppose that free market price of wheat is $4 per bushel.

Create a short article about a company-incremental analysis : Create a short article about a company making a decision like one just covered on Incremental Analysis.

How course has affected you in professional development : Discuss how this course has affected you in your professional development as a student, and as a person, as well as how it has encouraged you on your academic path.

Effects of world trade center attacks on new york rents : The 9/11 terrorist attack on World Trade Center complex completely destroyed or damaged twenty-one buildings with 31.2 million square feet of Manhattan office space

What activities make-up technological feasibility : What activities make-up technological feasibility to determine which of the costs incurred can be capitalized and justify why you valued the inventory (goods for resale) at lower-of-cost or-market.

Huge discounts in order to recover cash flows : Auditors found out that Campbell was delaying expenses to creditors at year end and selling inventories as huge discounts in order to recover cash flows.

Question about job description : In March 2004, with United States presidential campaign heating up, President Bush's White House team made what would seem to be a questionable employing decision.

Find the total sales-quantity variance : The XTRA Appliance Manufacturing Corporation manufactures two vacuum cleaners, the Super and the Standard - Find the total sales-quantity variance in terms of budgeted contribution margin?

Moral obligation to save the boy : Roger Smith, a quite competent swimmer, is out for a leisurely stroll. During course of his walk he passes through a deserted pier from which a teenage boy who apparently cannot swim has fallen into water.

User Account

All Pages