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Unformatted text preview: • All references to the FASB Accounting Standards Codification must be properly cited. • Appropriate organization, style, and grammar must be used. • The case must be completed in groups of 3 to 4 students. 1. What is the name and number of the topic that addresses the accounting for agricultural production activities in the FASB Accounting Standards Codification? 2. Which entities must apply the guidance contained in this topic? Which entities are specifically exempted from the guidance in this topic? Would the guidance in this topic apply to Red Hen Company? Explain. 3. What type of animal does the topic consider the egg-laying flock to be? Explain. 4. How should the Red Hen Company report its flock of egg-laying hens on the balance sheet? 5. Would your answer to Question 4 be the same if the company instead raised dairy cows for the production of milk? Explain....
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This note was uploaded on 12/14/2011 for the course MGT 268 taught by Professor Paragkosalge during the Spring '08 term at Grand Valley State.
- Spring '08