Questions from General Accounting


Q: Refer to Google’s recent balance sheet in Appendix A. What property

Refer to Google’s recent balance sheet in Appendix A. What property, plant and equipment assets does Google list on its balance sheet? What is the book value of its total net propert...

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Q: Refer to Samsung’s balance sheet in Appendix A. What does it

Refer to Samsung’s balance sheet in Appendix A. What does it title its plant assets? What is the book value of its plant assets at December 31, 2013? Samsung’s Balance Sheet from Appendix A: / /...

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Q: Assume that a company buys another business and pays for its goodwill

Assume that a company buys another business and pays for its goodwill. If the company plans to incur costs each year to maintain the value of the goodwill, must it also amortize this goodwill?

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Q: What is the general rule for cost inclusion for plant assets?

What is the general rule for cost inclusion for plant assets?

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Q: Refer to the December 31, 2013, balance sheet of Samsung

Refer to the December 31, 2013, balance sheet of Samsung in Appendix A. What long-term assets discussed in this chapter are reported by the company? Samsung’s Balance Sheet from App...

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Q: What is different between land and land improvements?

What is different between land and land improvements?

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Q: Why is the cost of a lump-sum purchase allocated to

Why is the cost of a lump-sum purchase allocated to the individual assets acquired?

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Q: Why is the Modified Accelerated Cost Recovery System not generally accepted for

Why is the Modified Accelerated Cost Recovery System not generally accepted for financial accounting purposes?

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Q: What accounting concept justifies charging low-cost plant asset purchases immediately

What accounting concept justifies charging low-cost plant asset purchases immediately to an expense account?

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Q: What is the difference between a current and a long-term

What is the difference between a current and a long-term liability?

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