Chapter 3 The Balance Sheet and Financial Disclosures Questions for Review of Key Topics Question 3-1 The purpose of the balance sheet, also known as the statement of financial position, is to present the financial position of the company on a particular date. Unlike the income statement, which is a change statement that reports events occurring during a period of time, the balance sheet is a statement that presents an organized array of assets, liabilities, and shareholders’
Words: 12426 - Pages: 50
Prepaid expenses Total current assets Long-term investments Land held for future use Cash surrender value of life insurance Property, plant, and equipment Building Less: Accum. depr.—building Office equipment Less: Accum. depr.—office equipment Intangible assets Goodwill Total assets Liabilities and Stockholders’ Equity Current liabilities Accounts payable Notes payable
Words: 921 - Pages: 4
changes Harnischfeger made in 1984. -In 1984, there was a switch from accelerated to straight line depreciation retroactively. Because of this, the depreciation expense decreased. -The estimated depreciation lives on certain U.S. plants, machinery and equipment changed. The economic life of these assets was increased, so the depreciation expense was lowered. -The company entered into a long-term agreement with Kobe Steel, Ltd, to supply Harnischfeger requirements for construction cranes for
Words: 654 - Pages: 3
Introduction: - Based out of Lima, OH, and Treadway Tire Company operates a plant which supplies tires to leading tire manufacturers. Background: - The organization with a total of 1,120 employees had 970 hourly based and 150 salary based employees. As Lima Plant is the top rated among Treadway’s tire plants with modern equipments, the management closed out the Greenville plant as the equipment was outdate and moved the volume to Lima plant. Problem: - Management implemented cost cuttings by bring down
Words: 461 - Pages: 2
CHAPTER 10 Plant Assets, Natural Resources, and Intangible Assets ASSIGNMENT CLASSIFICATION TABLE Brief Exercises 1, 2 A Problems 1A B Problems 1B Study Objectives 1. Describe how the cost principle applies to plant assets. Explain the concept of depreciation. Compute periodic depreciation using different methods. Describe the procedure for revising periodic depreciation. Distinguish between revenue and capital expenditures, and explain the entries for each. Explain how to account for the disposal
Words: 10344 - Pages: 42
ALTAIR EQUIPMENT CO.,INC. Water Treatment Technologies WARMINSTER, PA. 18974 DEAERATORS Why Deaeration Corrosion of iron or steel in boilers or boilers feed water piping is caused by three fundamental factors: 1. Feedwater temperature 2. Feed water ph value 3. Feedwater oxygen content Temperature and ph value influence the aggressiveness of corrosion. The higher the temperature, and the lower the pH value the increased aggressiveness of the feedwater. The dissolved oxygen content of the
Words: 1436 - Pages: 6
Seitz plant in Huntsville, AL that will be operational by June 30, 2012. | | Scope | Included in Scope: * Selection of Project Resources: Ex (Architect, Real Estate Consultant, and General Contractor) * Training of Huntsville plant managers. * Pre-Production and Production Planning * Building Concept and Design * Procurement of Building Site, Permits, and Appropriate Approvals * Construction of the Huntsville Plant Building * Site Landscaping * Personnel Recruitment for Plant Operation
Words: 269 - Pages: 2
| |Due 25JUN12 | Abstract This case study focuses on the treatment of property, plant, and equipment and how they are viewed by both GAAP and IFRS. We are provided with a situation in which we are required to apply both standards and determine the value of fixed assets IAW IFRS and GAAP in order to determined which accounting standard
Words: 1768 - Pages: 8
New South Wales Government Procurement System for Construction Space Procurement Practice Guide Building project elements July 2008 Procurement Practice Guide Procurement method selection Important notices Current version The current version of this Procurement Practice Guide is maintained on the Internet at: http://www.nswprocurement.com.au/Procurement-System-for-Construction/Reference-material/Procurementpractice-guides.aspx Amendments Refer to the Procurement Practice Guide Amendments
Words: 5739 - Pages: 23
GAS AND MULTI-FUEL POWER PLANTS The Sheki power plant in Azerbaijan is equipped with 10 x Wärtsilä 20V34SG engines. WÄRTSILÄ GAS AND MULTI-FUEL POWER PLANTS’ BENEFITS: • Plant electrical efficiency over 53% • Fast start-up – 2 min from hot standby to full plant load • Combined heat and power as an option • Excellent plant availability and reduced need for back-up capacity due to multi-unit installation • High part-load efficiency • Low gas pressure requirement • Maintenance schedule independent
Words: 2951 - Pages: 12
