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The Financial Accounting Standards Board issued accounting guidance to clarify accounting methods and procedures with respect to certain debt and all equity securities. An important part of the statement concerns the distinction between held-to-maturity, available-for-sale, and trading securities. Instructions
(a) Why does a company maintain an investment portfolio of held-to-maturity, available-for-sale, and trading securities?
(b) What factors should be considered in determining whether investments in securities should be classified as held-to-maturity, available-for-sale, and trading? How do these factors affect the accounting treatment for unrealized losses?
Glassett Corporation is considering a project that would require an investment of $62,000. No other cash outflows would be involved. The present value of the cash inflows would be $70,060. The profitability index of the project is closest to:
During the year, Fallen spent $7,500 on product development and paid $10,000 in continuing franchise fees. What amount should Fallen capitalize for intangible assets in 2010?
There were no other transactions between the two companies. Ignoring income taxes, Mets' statement of income for the year ended December 31, 2011, should include "Income From Investment in Pirates Corporation Stock" in the amount of:
villarente company issued 5-year 200000 face value bonds at 95 on january 1 2012. the stated interest rate on these
What is Gigantic Corporation's net tax liability if its taxable income is $325,000 and it has a general business credit of $125,000?
hennings travel company specializes in the production of travel items clocks personal care kits. the following data
Each project requires an investment of $620,000. Straight-line depreciation will be used, and no residual value is expected. The committee has selected a rate of 15% for purposes of the net present value analysis.
Which of the following characteristics distinguishes a governmental or not-for-profit entity from a business entity?
Gould Machinery builds bulldozers. Prior to this year, it sold a substantial amount of equipment to Mace Contractors on credit. Mace recently went into bankruptcy. To protect its investment, Gould took over Mace.
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a your company is constructing a factory building for its own use and takes out a 2 million loan 10 interest rate from
eclispe computer company has been purchasing carrying cases for its portable computer at a delivered cost of 65 per
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