TOPICAL CODES EXERCISE_STUDENT

TOPICAL CODES - trading up to a larger property by surrendering its existing real estate and paying cash for the difference in fair value 4 Guava

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STUDENT NAME : ______________________________________ Golden Gate University Topical Codes Exercise Transaction, Event, or Circumstance Applicable Topical Codes/Description 1.) Higher Technology, Inc. (“HT”), maintains a significant cash balance to serve as a buffer in the current economic downturn. HT has invested some of this cash in publicly traded bonds and non-voting preferred stock to get a better return than bank deposits or money market funds. HT intends to hold these securities for the foreseeable future unless events or changes in circumstances occur which allow for opportunistic trading or risk mitigation. 2.) Realty Corporation owns an office rental property in an area that has recently experienced significant declines in the market value of similar properties. 3.) Omni Corporation has entered into a “like-kind” exchange of office buildings,
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Unformatted text preview: trading up to a larger property by surrendering its existing real estate and paying cash for the difference in fair value. 4.) Guava Computer Corporation, a publicly traded high technology manufacturer, promises to give Golden Gateway University computer equipment to facilitate expansion of GGU’s computer lab in the School of Business. 5.) Parkview Hospital, a 501 (c)(3) organization, purchases an MRI by entering into a 3-year installment sale contract with Illuminar, Inc., the MRI manufacturer. By entering into this sale contract, Parkview also obtain the right to purchase imaging supplies at a 10% discount. 6.) Garth Inc. obtains cash by discounting its receivables on a limited recourse basis. Garth agrees to repurchase accounts that become more than 90 days delinquent provided, however, the aggregate amount repurchased will not exceed 10% of the original cash proceeds....
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This note was uploaded on 11/02/2011 for the course ACCOUNTING 300 taught by Professor Rodhurd during the Fall '11 term at Golden Gate.

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