Making choices and exercising judgment.
a. Which of the following would be recordable transactions in an accounting information system? For each item that would not be a recordable transaction, explain why not.
i. Purchasing land with a down payment and a note payable.
ii. Verifying an increase in the market value of land.
iii. Establishing an exclusive relationship with a raw material supplier.
iv. Estimating the amount of warranty expense for the next accounting period.
v. Negotiating with an employees union for wage increases.
b. How will principles-based accounting influence the design of accounting information systems? The steps in the accounting cycle?
c. Use EDGAR to obtain the 10-K reports for Barnes&Noble dated 1 April 2009 and 2 April 2008. Compare their financial statements and comment on which company is stronger.
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.