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Problem 1: Alton Floral is a new company that operates in the gardening industry. The owner of the company has decided not to hire an accountant, rather maintain the financial records on his own. He has reported his employees as assets on the balance sheet in an account called "Human Resources." He has valued them at the present value of their future salaries on the balance sheet. Also, the financial statements are not supported by notes explaining some of the figures. Which of the basic financial statement foundations has Alton Floral violated? Explain
What is the amortization amount for every intangible asset in the existing year?
Pretend that you have misplaced your MACRS tables. Develop the tables for a property class of 3 years assuming 200% DB depreciation switching to straight line; half-year convention; salvage value equal to $0. Your answers should match those for MACRS..
In January 2014, Bradley paid $18,000 in legal fees in a successful defense of the patent. What should Bradley record as patent amortization for 2014?
Total assets are $1,250,000. The company's equity multiplier is 2. The company's return on assets is 15%. What is the company's return on equity?
Compute the first years depreciation using the following methods: - a. Straight-line - b. Double-declining balance.
We also spent about $100,000 for branding research. Could you please provide advice on the correct presentation of such intangible assets?
Imagine that you work for an audit firm and the firm selected you to assess its auditor independence and the potential threats to the firm. Determine at least two (2) potential threats to auditor independence and recommend one (1) strategy for the fi..
The comparative statements of Osborne Company are presented here.
At the end of 2012, Payne Industries had a deferred tax asset account with a balance of $30 million attributable to a temporary book-tax difference of $75 million in a liability for estimated expenses. Prepare the journal entry to record Payne's inco..
Solve for the new cost of capital, assuming the $10 million bond issued at par with a 4% coupon. Solve for the current cost of capital of CBPG
Discuss the nature of emission allowances and provide justification and Discuss how emission allowances - Provide journal entries for these transactions
What is the cost of the raw materials requisitioned in June for each of the three jobs?
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