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Suppose Moody's bond rating agency downgraded the risk rating of the bonds motivating Tanner-UNF to sell the investment on January 2, 2017, for $190 million.
Obtain the relevant authoritative literature on accounting for investments in held-to-maturity securities using the FASB's Codification Research System .
Disclosures for available-for-sale securities should include total losses for securities that have net losses included in accumulated other comprehensive income
No investments were sold during 2016. All securities except Security D and Security F are considered shortterm investments.
One of the projects was completed and commercial production of the developed product began in December.
Determine the initial values of the various assets that San Antonio acquired or constructed during 2016.
Discuss the ethical dilemma Alice faces in determining the treatment of the $30 million equipment purchase.
How does the company account for research and development expenditures? Does this policy differ from U.S. GAAP?
The company's 2014 fixed-asset turnover ratio, using the average book value of property, plant, and equipment (PP&E) as the denominator, was approximately 10.61
Explain the appropriate method for determining the amount of periodic amortization for any capitalized software development costs.
Identify and define the three characteristics of an asset that must be established to determine periodic depreciation, depletion, or amortization.
Briefly differentiate between the straight-line depreciation method and accelerated depreciation methods.
What are some factors that could explain the predominant use of the straight-line depreciation method?
Explain the steps required to correct an error in accounting for property, plant, and equipment and intangible assets that is discovered.
Explain the differences in the accounting treatment of repairs and maintenance, additions, improvements, and rearrangements.
Identify any differences between U.S. GAAP and International Financial Reporting Standards in the subsequent valuation of property, plant, and equipment.
Briefly explain the differences between U.S. GAAP and IFRS in the measurement of an impairment loss for goodwill.
Koeplin's controller recorded depreciation of $18,000 for the year, the decline in the machine's value.
On January 1, 2016, Canseco Plumbing Fixtures purchased equipment for $30,000. Residual value at the end of an estimated four-year.
In 2016, the estimates of useful life and residual value were changed to 20 years and $500,000, respectively.
Collison and Ryder Company (C&R) has been experiencing declining market conditions for its sportswear division.
Assume that the sum of estimated future cash flows is $24 million instead of $28 million. What amount of impairment loss should C&R recognize?
What amount of impairment loss should C&R recognize if the company prepares its financial statements according to IFRS?
Discuss the accounting treatment of the depletion and depreciation on the mine and mining equipment.
Prepare the journal entries to record the purchase of the new refrigerators and the sale of the old refrigerators.