Questions from Intermediate Accounting

Q: Prior to 2014, Heberling Inc. excluded manufacturing overhead costs from

Prior to 2014, Heberling Inc. excluded manufacturing overhead costs from work in process and finished goods inventory. These costs have been expensed as incurred. In 2014, the company decided to chang...

Q: Each of the following items must be considered in preparing a statement

Each of the following items must be considered in preparing a statement of cash flows for Blackwell Inc. for the year ended December 31, 2014. State where each item is to be shown in the statement, if...

Q: Discuss briefly the three approaches that have been suggested for reporting changes

Discuss briefly the three approaches that have been suggested for reporting changes in accounting principles.

Q: At December 31, 2014, Reid Company had 600,000

At December 31, 2014, Reid Company had 600,000 shares of common stock issued and outstanding, 400,000 of which had been issued and outstanding throughout the year and 200,000 of which were issued on O...

Q: Explain how the investment account is affected by investee activities under the

Explain how the investment account is affected by investee activities under the equity method.

Q: What are the possible treatments for tax purposes of a net operating

What are the possible treatments for tax purposes of a net operating loss? What are the circumstances that determine the option to be applied? What is the proper treatment of a net operating loss for...

Q: How does an “asset gain or loss” develop in pension

How does an “asset gain or loss” develop in pension accounting? How does a “liability gain or loss” develop in pension accounting?

Q: Describe the effect of a “bargain-purchase option” on

Describe the effect of a “bargain-purchase option” on accounting for a capital lease transaction by a lessee.

Q: Classify the following items as (1) Operating,

Classify the following items as (1) Operating, (2) Investing, (3) Financing, or (4) significant non-cash investing and financing activities, using the direct method. (a) Cash payments to empl...

Q: What are the accounting problems related to the presentation of interim data

What are the accounting problems related to the presentation of interim data?