Card 2 Flashcards
Do you substract salvage value when you calculate double-decling depriciation?
No
Will you use fair market value or actual legal service cost when you calculate additional paid in capital?
Fair market value
Do you need to substract from net income cumulative prepfered stock dividend when you calculate basis EPS?
Yes
Is Freiht out cost included in selling expense or administrative expense?
Selling expense
What is periodic inventory system?
With a periodic inventory system, the quantity of inventory is determined only by physical count, usually at least annually.
What is perpetual inventory systm?
With a perpetual inventory system, the inventory record for each item of inventory is updated for each purchase and each sale as they occur.
Is stock dividend reported as dividend income?
No
What is accelerated filers?
With a public float of greater than or equal to $75 million.
What is the maximum number of days after the company’s fiscal year end that the company has to file Form 10-K with the SEC for accelerated filers?
75 days
Gross deferred tax asset?
Net deferred tax asset + Valuation allowance
When should we disclose estimate?
Estimate is reasonably possible (not probable)
Where should we include unrealized losses in an available-for-sale equity securities?
In the income statement
Where should we include unrealized losses in an available-for-sale debt securities?
In the other comprhensive income
if the Property damage before balance sheet date and there is a insurance, then which amount will accrued?
Total damaged amount
if the Property damage before balance sheet date and there is a insurance, when will we include the insurance proceed?
Wene we received the insurance proceed.
