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vodomira [7]
3 years ago
13

Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Determine the specific eight-digit Codific

ation citation (XXX-XX-XX-X) for accounting for each of the following items: Required: 1. Reporting most changes in accounting principle. 2. Disclosure requirements for a change in accounting principle. 3. Illustration of the application of a retrospective change in the method of accounting for inventory.
Business
1 answer:
Rzqust [24]3 years ago
8 0

Answer:

1. Reporting most changes in accounting principle.

FASB ACS 250-10-45-5.

Title - "Accounting changes and Error corrections - Overall - Other presentation matters - Change in Accounting principle"

2) Disclosure requirements for a change in accounting principle:

FASB ACS 250-10-50-1 :

Title - "Accounting changes and Error corrections - Overall - Disclosure - Change in accounting principle"

3) Illustration of the application of a retrospective change in the method of accounting for Inventory :

FASB ACS 250-10-55-3

Titles - "Accounting changes and Error corrections - Overall - Implementation guidance and Illustrations -Retrospective application of a change in Accounting principle."

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On January 1, 2021, Nana Company paid $100,000 for 8,000 shares of Papa Company common stock, which represents 10% ownership. Pa
inna [77]

Answer:

$360,000

Explanation:

According to the scenario, computation of given data are as follows,

Nana company bought shares = 8,000

Fair value of share = $45 per share

So, we can calculate the amount to be reported in balance sheet by using following formula,

Amount to be reported in balance sheet = Number of shares bought × Fair value per share

= 8,000 × $45

= $360,000

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3 years ago
Mr. and mrs. chavez close on a 30 year home loan for $250,000. the monthly payment with no points is $1,580, but if they buy a p
dlinn [17]
The Chavez family has two options when applying a house loan for 30 years which is amounting to $250,000. First, the will not take the points with a monthly payment of $1580 while if they take the points, they will have a monthly payment of $1560. What they did was they did not buy the points and the reason for this was they are planning to sell the house after 5 years.
3 0
4 years ago
Read 2 more answers
The occupational safety & health administration requires that organizations follow which guidelines for electrical safety?.
Katarina [22]

The safety and health guidelines at work focus on avoiding accidents in workers and performing optimal and adequate work.

<h3>What guidelines should an electrical worker follow?</h3>

The occupational health and safety guidelines depend on the activity to be carried out, since each set of guidelines is specifically designed to avoid accidents and contingencies in different contexts.

To guarantee safety in electrical procedures, companies must follow the following guidelines:

  • Wear insulating shoes and gloves.
  • Do not have metallic accessories such as chains, earrings, bracelets, among others.
  • Work without power supply while manipulating electrical networks.
  • Avoid working with electricity in wet places because liquids are good conductors of electricity.
  • Analyze the electrical network before starting, to identify the relevant procedures to be carried out.
  • Use a helmet, gloves, overalls, goggles and other personal protection elements.

Learn more about safety and health administration in: brainly.com/question/14141751

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3 0
2 years ago
If the future value of an ordinary, six-year annuity is $8,500 and interest rates are 9.5 percent, what’s the future value of th
vfiekz [6]

Answer:

The future value of the same annuity due is $9307.50

Explanation:

FVA6 = 8500*(1 + 9.5%)

         = $9307.50

Therefore, The future value of the same annuity due is $9307.50

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3 years ago
Determining if you can convince local units to conform to international standards is part of the ________ dimension for developi
SSSSS [86.1K]

Determining if you may persuade neighborhood devices to conform to worldwide standards is a part of the management and business manner size for developing a global information systems architecture.

A worldwide statistics structures architecture consists of the fundamental records structures required via businesses to coordinate international change and other activities. Hewlett-Packard and other electronics agencies assign distribution and manufacturing of excessive-stop merchandise to a number of one-of-a-kinds international locations.

Facts Bimprovement should encompass five steps, which include making plans and design segment, Operational analysis phase, requirements evaluation segment, function evaluation section, and physical Synthesis phase.

3 primary classes of information structures serve exclusive organizational levels: operational-level systems, control-degree structures, and strategic-level structures.

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8 0
2 years ago
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