Team up with one or more classmates for this activity. Identify companies in your community or area that must account for at least one of the following assets: natural resource; patent; lease; leasehold improvement; copyright; trademark; or goodwill. You might find a company having more than one type of asset. Once you identify a company with a specific asset, describe the accounting this company uses to allocate the cost of that asset to the periods benefited from its use.
Answer to relevant QuestionsRefer to Polaris’ balance sheet in Appendix A. What accrued expenses (liabilities) does Polaris re-port at December 31, 2011? Refer to the statement of cash flows for Piaggio in Appendix A. For the year ended December 31, 2011, what was the amount for repayment of bank loans?Refer to Polaris’ 2011 balance sheet in Appendix A. How many shares of common stock are authorized? How many shares of voting common stock are issued? Refer to Polaris’ financial statements in Appendix A. On December 31, 2011, what percent of current assets are represented by inventory?Can management of a company such as Polaris use cycle time and cycle efficiency as useful measures of performance? Explain.
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