...CHAPTER 11 Depreciation, Impairments, and Depletion ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) | | |Brief Exercises | | | Concepts for | |Topics |Questions | |Exercises |Problems |Analysis | |1. |Depreciation methods; meaning of |1, 2, 3, 4, 5, 6, | |1, 2, 3, 4, 5, 8, |1, 2, 3 |1, 2, 3, 4, 5 | | |depreciation; choice of depreciation |10, 14, | |14, 15 | | | | |methods. |20, 21, 22 | | | | | |2. |Computation of |7, 8, 9, 13 |1, 2, 3, 4 |1, 2, 3, 4, |1, 2, 3, |1, 2, 3 | | |depreciation. | | |5, 6, 7, |4, 8, 10, 11, 12 | | | | | | |10, 15 | | | |3. |Depreciation base. |6, 7 |5 |8, 14 |1, 2, 3, |3 | | | ...
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...A++PAPER;http://www.homeworkproviders.com/shop/acc-422-week-4/ ACC 422 WEEK 4 WILEYPLUS ASSIGNMENT ACC 422 Week 4 WileyPlus Assignment E11-4 (Depreciation Computations—Five Methods) Instructions From the information given, compute the depreciation charge for 2011 under each of the following methods. (Round to the nearest dollar.) (a) Straight-line. (b) Units-of-output. (c) Working hours. (d) Sum-of-the-years’-digits. (e) Double-declining-balance. P11-6 (Depletion and Extraordinary Loss) Instructions (a) Determine the depletion cost per board foot for the timber harvested prior to the eruption of Mount Leno. (b) Prepare the journal entry to record the depletion prior to the eruption. (c) If this tract represents approximately half of the timber holdings of O’Brien, determine the amount of the extraordinary loss due to the eruption of Mount Leno for the year ended December 31, 2010. E12-16 (Accounting for R&D Costs) Instructions (a) What account should be charged for the $325,000, and how should it be shown in the financial statements? (b) The project is completed in 2010, and a successful patent is obtained. The R&D costs to complete the project are $130,000. The administrative and legal expenses incurred in obtaining patent number 472-1001-84 in 2010 total $24,000. The patent has an expected useful life of 5 years. Record these costs in journal entry form. Also, record patent amortization (full year) in 2010. (c) In 2011, the company...
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...CHAPTER 11 DEPRECIATION, IMPAIRMENTS, AND DEPLETION IFRS questions are available at the end of this chapter. TRUe-FALSe—Conceptual Answer No. Description T 1. Nature of depreciation. F 2. Nature of depreciation. T 3. Depreciation, depletion, and amortization. T 4. Definition of depreciation base. F 5. Factors involved in depreciation process. F 6. Definition of inadequacy. T 7. Objection to straight-line method. F 8. Units-of-production approach. F 9. Accelerated depreciation method. T 10. Declining-balance method. T 11. Group or composite approach. F 12. Use of the composite approach. T 13. Accounting for changes in estimates. F 14. Computation of impairment loss amount. T 15. First step in determining an impairment. T 16. Reporting impaired assets held for disposal. F 17. Method used to compute depletion. T 18. Costs included in depletion base. F 19. Computing asset turnover ratio. T 20 Profit margin on sales ratio. Multiple Choice—Conceptual Answer No. Description d 21. Knowledge of depreciation accounting. b 22. Conceptual rationale for depreciation accounting. c 23. Depreciation and retaining funds. b S24. Definition of depreciation. a S25. Service life vs. physical life. a P26. Definition of depreciable cost. d 27. Economic factors affecting useful service life. d 28. Factors involved in computing depreciation. d 29. Straight-line method assumption. a 30. Activity method of depreciation. a 31...
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...C HAPT E R 11 ACCOUNTING FOR BRANCH OPERATIONS Corporations in Financial Difficulty Not-for-Profit and Governmental Entities Partnerships Reporting Requirements Multinational Entities Multi-Corporate Entities Branch Operations Additional Consolidation Issues Intercorporate Transfers Consolidation Procedures Consolidation Concepts Intercorporate Investments Business Combinations One route to corporate expansion is the external approach of acquiring other companies in business combinations, as discussed in Chapter 1. Another approach to expansion is through internal growth. While such growth can occur at a single location, companies often expand by establishing additional locations. For example, Wal-Mart’s phenomenal growth would have been impossible had the company not established many new stores at various locations throughout much of the country. When operations are conducted at more than a single location, the different locations may be referred to as sales agencies, branches, plants, or by numerous other terms. Unfortunately, terminology referring to multiple operating locations is not standardized. In addition, many different approaches are taken in establishing internal accounting and reporting systems for companies operating through outlying locations. Distinction between Sales Agency and Branch The difference between a sales agency and a branch most often has to do with the degree of autonomy. A sales agency, sometimes referred to simply as an “agency,”...
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...Quantitative Business Valuation Other Titles in the Irwin Library of Investment and Finance Convertible Securities by John P. Calamos Pricing and Managing Exotic and Hybrid Options by Vineer Bhansali Risk Management and Financial Derivatives by Satyajit Das Valuing Intangible Assets by Robert F. Reilly and Robert P. Schweihs Managing Financial Risk by Charles W. Smithson High-Yield Bonds by Theodore Barnhill, William Maxwell, and Mark Shenkman Valuing Small Business and Professional Practices, 3rd edition by Shannon Pratt, Robert F. Reilly, and Robert P. Schweihs Implementing Credit Derivatives by Israel Nelken The Handbook of Credit Derivatives by Jack Clark Francis, Joyce Frost, and J. Gregg Whittaker The Handbook of Advanced Business Valuation by Robert F. Reilly and Robert P. Schweihs Global Investment Risk Management by Ezra Zask Active Portfolio Management 2nd edition by Richard Grinold and Ronald Kahn The Hedge Fund Handbook by Stefano Lavinio Pricing, Hedging, and Trading Exotic Options by Israel Nelken Equity Management by Bruce Jacobs and Kenneth Levy Asset Allocation, 3rd edition by Roger Gibson Valuing a Business, 4th edition by Shannon P. Pratt, Robert F. Reilly, and Robert Schweihs The Relative Strength Index Advantage by Andrew Cardwell and John Hayden Quantitative Business Valuation A Mathematical Approach for Today’s Professional JAY B. ABRAMS, ASA, CPA, MBA McGRAW-HILL New York San Francisco Washington, D.C. Auckland Bogota ´ Caracas Lisbon London...
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...Financial Accounting Standards No. 157 Fair Value Measurements STATUS Issued: September 2006 Effective Date: For financial statements issued for fiscal years beginning after November 15, 2007, and interim periods within those fiscal years Affects: Amends APB 21, paragraphs 13 and 18 Deletes APB 21, footnote 1 Amends APB 28, paragraph 30 Amends APB 29, paragraphs 18 and 20(a) Deletes APB 29, paragraph 25 and footnote 5 Amends FAS 13, paragraph 5(c) Amends FAS 15, paragraphs 13 and 28 Deletes FAS 15, footnotes 2, 5a, and 6 Amends FAS 19, paragraph 47(l)(i) Amends FAS 35, paragraph 11 and footnote 5 Deletes FAS 35, footnote 4a Amends FAS 60, paragraph 19 Deletes FAS 60, footnote 4a Amends FAS 63, paragraphs 4, 8, and 38 through 40 Amends FAS 65, paragraphs 4, 6, 9, 10, 12, and 29 Amends FAS 67, paragraphs 8 and 28 Deletes FAS 67, footnote 6 Amends FAS 87, paragraphs 49 and 264 and footnote 12 Deletes FAS 87, footnote 11a Amends FAS 106, paragraphs 65 and 518 and footnote 21 Deletes FAS 106, footnote 20a Deletes FAS 107, paragraphs 5, 6, 11, and 18 through 29 Amends FAS 107, paragraphs 9, 10, 30, and 31 Amends FAS 115, paragraphs 3(a) and 137 Replaces FAS 115, footnote 2 Amends FAS 116, paragraphs 19, 20, 184, 186, and 208 Deletes FAS 116, footnote 8 Amends FAS 124, paragraphs 3(a) and 112...
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