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Question - John Brownstone works for Secretariat, Inc. He and Fatima Johnson, his manager, are preparing adjusting entries for the year-end financial statements. Brownstone computes depreciation and records it as
Depreciation Expense, Equipment150,000 Accumulated Depreciation, Equipment 150,000 Johnson agrees with his computation but says that the credit entry should go directly into the Equipment account. Johnson argues that while Accumulate Depreciation is technically correct, it is "less of a hassle" to not use a contra account and and to just credit the Equipment account directly. "And besides, the balance sheet will show the same balance for Equipment under either method."
1. Is there an ethical issue in this case? If so, what is it? (Support your answer)
2. What are the strengths and weaknesses of Johnson's approach to recording depreciation?
3. How should depreciation be recorded and why?
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
Accounting problems, Draw a detailed timeline incorporating the dividends, calculate the exact Payback Period b) the discounted Payback Period. the IRR, the NPV, the Profitability Index.
Term Structure of Interest Rates
Write a report on Internal Controls
Prepare the bank reconciliation for company.
Create a cost-benefit analysis to evaluate the project
Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR
Distinguish between liquidity and profitability.
Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.
Simple Interest, Compound interest, discount rate, force of interest, AV, PV
CAPM and Venture Capital
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