TEXTBOOK:
Accounting and Auditing Research: Tools and Strategies
by Thomas R. Weirich; Thomas C. Pearson; Natalie Tatiana Churyk
10th Edition
After reading the attached word document which has the all of the chapters, pleasanswer the following questions:
CHAPTER 5:
#5. Topic: Consolidation – Accounting Policies – Parent Company has control over
several entities. Parent Company reports inventory using the first-in, first-out (FIFO) cost formula. The other entities report inventories using the FIFO cost formula or the weighted average (WA) cost formula. See inventory values below:
Parent Company Entity A Entity B Entity C
FIFO 2,000 1,200 1,500 2,200
WA 1,900 1,000 1,300 2,000
Required: Utitlize eIFRS to find authoritative guidance regarding the amount Parent Company should report for inventory in its consolidated financial statements. BE
SURE TO CITE SPECIFIC authoritative literative to justify your answer.
**LIST 3***
CHAPTER 7
Exercise # 28. Find each of the following documents on the web:
a. A copy of your state’s individual income tax form (MY state is New York State).
b. A copy of Publication 597, “Information on the United States-Canada Income Tax Treaty.”
c. Summarize two proposed taxation bills from either the Joint Committee on Taxation, House Ways and Means Committe, or Senate Finance Committe.
CHAPTER 8 Assurance Service but answer CHAPTER 4 Knowlege Buster #6:
#6. Topic: Stock Dividend Johnson Industries, which is having a very successful year, suggests to the Board of Directors that it issue a dividend to the stockholders. In the discussion with management, the members of the Board of Directors conclude that, in order to conserve cash for plant expansion, they will declare a 3 percent stock dividend in December of the current year to be distributed early next year.
As a result of this decision, the CFO of Johnson Industries, in preparing the financial statements, questions whether the stock dividend should be used in calculating the weighted average number of shares outstanding in the determination of EPS for the current year, since the dividend will not be distributed until next year. The CFO turns to you for advice.
Required: Determine the appropriate handling of the stock dividend in calculating EPS. Cite specific authoritative references to defend your answer.
Last Completed Projects
| topic title | academic level | Writer | delivered |
|---|