Lec9_08 - How will they be affected E8-23 Intangible Assets...

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Finish Inventories + Introduction to Long Term Assets March 31, 2008
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Sales and Discounts One more time Problem P7-11 Idea of Norms here .
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Introduction to Property, Plant and Equipment and Other Long Term Assets What is fixed asset turnover? Where do you find definition? 8-2
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Initial Recording of An Asset Cost Principle and initial measurement of long term asset. Principle-Historical Cost-All costs to get an asset ready for sale. E8-4 P8-3
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Depreciation and Repairs Distinguish whether repairs are normal maintenance or enhance the life of asset. If latter then they should be capitalized and depreciated. E8-6
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Types of Depreciation I. Straight Line a)How do you compute it? I. Production Method a) How do you compute it? III Double Declining Balance a)Where used and how do you compute? Problem: E8-8
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Asset Disposal How do you determine the amount of gain or loss? What to do? E8-13 P8-6
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Change in Useful Life How do you change it and reflect in the financial statements?
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Unformatted text preview: How will they be affected E8-23 Intangible Assets Types. Patents, Copyrights, Goodwill, Licences, Franchise What is Amortization? Problem P8-10 Introduction to Liabilities A.How are they measured? 3 B.Why is deferred revenue a liability? 5 C. Contingent Liability How measured? 10 D. Time value of money 12 Deriving Formulas From Chapter 9 early questions. Working capital What are working capital and current ratio? Problem to determine working capital and current ratio. E9-1 Employee fringe benefits What are fringe benefits? FICA taxes--what are they? What is the way a company reports these items? Problem E9-3 Beginning to work with Interest Recording interest and payoff of note payable. Examining why firms take on different types of debt? E9-4 E9-21 E9-14 Are leases liabilities? What is the issue? Getting a better feel for problem. E9-9...
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This note was uploaded on 09/18/2008 for the course ACCT 2050 taught by Professor Sanjay during the Spring '08 term at Minnesota.

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Lec9_08 - How will they be affected E8-23 Intangible Assets...

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