Questions from Financial Accounting


Q: How should companies account for costs, such as maintenance or improvements

How should companies account for costs, such as maintenance or improvements, which are incurred after an asset is acquired?

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Q: Amazon.com, Inc. provides the following description of its

Amazon.com, Inc. provides the following description of its revenue recognition policies in its second quarter of 2018 I 0-Q report. Revenue Revenue is measured based on the amount of consideration tha...

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Q: Use the following year-end footnote information from Cisco Systems,

Use the following year-end footnote information from Cisco Systems, Inc. 's I 0-K report to answer parts a and b. a. At what amount is its available-for-sale investments reported on Cisco's 20 18 bala...

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Q: Under what circumstances should a company report goodwill in its balance sheet

Under what circumstances should a company report goodwill in its balance sheet? What is the effect of goodwill on the income statement?

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Q: LVMH Moet Hennessy Louis Vuitton SE (LVMH) is a French

LVMH Moet Hennessy Louis Vuitton SE (LVMH) is a French multinational luxury goods conglomerate headquartered in Paris. The following information is selected from their 2017 annual report. LVMH has an...

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Q: What is the effect of capitalized interest on the income statement in

What is the effect of capitalized interest on the income statement in the period that an asset is constructed? What is the effect in future periods?

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Q: Simply Technologies, Inc., manufactures electronic equipment used to facilitate control

Simply Technologies, Inc., manufactures electronic equipment used to facilitate control of production processes and tracking of assets using RFID and other technologies. Since its initial public offer...

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Q: Why is the recognition of depreciation expense necessary for proper expense recognition

Why is the recognition of depreciation expense necessary for proper expense recognition?

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Q: Lafond Company analyzes its accounts receivable at December 31, 20 19

Lafond Company analyzes its accounts receivable at December 31, 20 19, and arrives at the aged categories below along with the percentages that are estimated as uncollectible. At the beginning of the...

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Q: Why do companies use accelerated depreciation for income tax purposes, when

Why do companies use accelerated depreciation for income tax purposes, when the total depreciation taken over the asset's useful life is identical to straight-line depreciation?

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