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lana66690 [7]
2 years ago
8

The FASB issued six types of pronouncements prior to the Codification: Statements of Financial Accounting Standards. These prono

uncements established GAAP. They indicated the methods and procedures required on specific accounting issues. Interpretations. These pronouncements provided clarifications of conflicting or unclear issues relating to previously issued FASB Statements of Financial Accounting Standards, APB Opinions, or Accounting Research Bulletins. Staff Positions. The staff of the FASB issued these pronouncements to provide more timely and consistent application guidance in regard to FASB literature, as well as to make narrow and limited revisions of GAAP. Technical Bulletins. The staff of the FASB issued these pronouncements to clarify, explain, and elaborate on accounting and reporting issues related to Statements of Standards or Interpretations. Statements of Financial Accounting Concepts. These pronouncements established a theoretical foundation upon which to base GAAP. They are the output of the FASB’s "conceptual framework" project. Other Pronouncements. On a major topic, the staff of the FASB may have issued a Guide for Implementation.
Business
1 answer:
Natalka [10]2 years ago
4 0

<u>Solution and Explanation:</u>

The following guidelines as per the previously issued FASB statements of the Financial Accounting Standards, and APB Opinions, or the accounting research bulletins and the staff positions.

<u>The appropriate match for the each of the pronouncement is as follows: </u>

1. E (Interpretations)

2. C (Technical Bulletins)

3. B (Opinions)

4. D (Statements of Financial Accounting Concepts)

5. G (Accounting Research Bulletins)

6. A (The statements of the Financial Accounting Standards)

7. F (The Staff Positions)

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The minimum amount that you will accept today if you are to select the lump sum offer is $11,324.66.

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The minimum amount that you will accept today if you are to select the lump sum offer is known as the present value of the cash flows. Present value is the sum of discounted cash flows.

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a procedure on the medicare nonparticipating fee schedule is priced at $320. How much can the nonparticipating provider charge f
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7 0
3 years ago
EB11.
Zarrin [17]

Answer:

Q. Gear Up Co. pays 65% of its purchases in the month of purchase, 30% in the month after the purchase, and 5% in the second month following the purchase. What are the cash payments if it made the following purchases in 2018?

February 2018 $90,000, March 2018 92,000, April 2018 101,000, May 2018 98,000, June 2018 99,500.

Answer) $440,775

Explanation:

Cash payments to be made in 2018 for the purchases given in question are:

                              Feb 2018        Mar 2018   Apr 2018   May 2018  June 2018

Cash Payments

65% of $90,000   58,500            

30% of $90,000                           27,000

5%  of $90,000                                               4,500

65% of $92,000                           59,800

30% of $92,000                                             27,600

5%  of $92,000                                                                 4,600

65% of $101,000                                             65,650

30% of $101,000                                                              30,300

5%  of $101,000                                                                                      5,050

65% of $98,000                                                               63,700

30% of $98,000                                                                                      29,400

65% of $99,500                                                                                      64,675

Total                       $58,500     $86,800   $97,750     $98,600          $99,125

Total payments in 2018=$440,775

(58,500+86,800+97,750+98,600+99,125)

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