Week 5 Discussion Question 4

Week 5 Discussion Question 4 - utilized by my previous...

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Week 5 Discussion Question 4: Describe two things you have learned in this class that differ from accounting procedures utilized by your employer. One of the things I have learned in this class, which differs from accounting procedures utilized by my last employee is issuing stocks. My previous employer did not have any stock options. I believe the company has offices in four states, 3 offices here in Arkansas, two offices in Missouri and Oklahoma, and I am not sure how many offices the company has in Texas (which is where the home office is located. I am not sure why the company did not issue stocks, but I think maybe the company is not larger enough to consider issuing stocks. The second thing I have learned in this class, which differs from accounting procedures
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Unformatted text preview: utilized by my previous employer is the way the text teaches us how to post entries for customer-related intangible assets. The text uses the following to post an entry for customer-related intangible assets: December 31, 2009 Customer List 5,000 Cash 5,000 My previous employer used the following to post an entry for customer-related intangible assets: December 31, 2009 D. Morgan 5,000 Cash 5,000 The amortization entries are the same as the text. I think using each customer’s name made the entries a longer process than necessary. I think it is easier and takes less time to add all of the customer-related intangible assets together, making one journal entry for the entire section....
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This note was uploaded on 02/19/2010 for the course ACC 362 taught by Professor Wormer during the Spring '07 term at University of Phoenix.

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