1) You should create a scenario for 4 separate transactions that address the following. (you can...
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1) You should create a scenario for 4 separate transactions that address the following. (you can have a separate sheet for each scenario or one sheet that includes them all): A. Cash purchase of a long-term asset that includes an asset retirement obligation, B. One self-constructed asset that will not be completed by the end of the year which includes at least 2 expenditures during the fiscal year, C. One impairment of existing goodwill or another long-term asset that is held and used, D. Depreciation for each remaining quarter - you pick a method as if it had been in place and record entries for 2nd, 3d, and 4th quarter. Use an appropriate existing expense account or add a depreciation expense account. You come up with the backstory and details for these transactions, providing me with a description of the transaction that provides enough detail for me to recalculate your numbers. For example, with impairments this would mean that you have to provide me with all of the information needed to recalculate the impairment you record. 1) You should create a scenario for 4 separate transactions that address the following. (you can have a separate sheet for each scenario or one sheet that includes them all): A. Cash purchase of a long-term asset that includes an asset retirement obligation, B. One self-constructed asset that will not be completed by the end of the year which includes at least 2 expenditures during the fiscal year, C. One impairment of existing goodwill or another long-term asset that is held and used, D. Depreciation for each remaining quarter - you pick a method as if it had been in place and record entries for 2nd, 3d, and 4th quarter. Use an appropriate existing expense account or add a depreciation expense account. You come up with the backstory and details for these transactions, providing me with a description of the transaction that provides enough detail for me to recalculate your numbers. For example, with impairments this would mean that you have to provide me with all of the information needed to recalculate the impairment you record.
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Related Book For
College Accounting Chapters 1-30
ISBN: 978-0077862398
14th edition
Authors: John Price, M. David Haddock, Michael Farina
Posted Date:
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