1-Jan Office Equipment
1-Sep Depreciation Expense
Gain on Sale
31-Dec Depreciation Expense
Topic 5 - Activity #1 (complete prior to class)
Determining when to recognize revenue and how much to report can be very difficult for many companies. Incorrect
revenue recognition is a common reason for restating previously issued financial statements. (
Topic 4 - Activity #1 (complete parts 1 and 2 prior to class)
This is a Basic DuPont model for Kroger and Whole Foods. Open the Excel Spreadsheet posted on Blackboard which
contains their financial statements. Calculate all ratios for the most recent year
Topic #2 - ACTIVITY #1 (work on prior to class)
For each of the items below, identify the basic accounting concept or qualitative characteristic that the
statement is referring to.
a. Accrual Accounting Concept
Topic #3 - ACTIVITY #1 (we will work on in class)
Purchase equipment on August 1, 2016 for $25,000.
Estimated useful life is 4 years (48 months); estimated salvage value is $1,000.
Will be given formula on exam:
(original amount pa
Elvia Franco ACC 502
Topic #1 - ACTIVITY #1 (complete prior to class)
Questions on Articles: Accounting Value & In China, Little Urge to Audit the Auditors
1. What are the capital market consequences of high quality reporting?
Capital market consequences