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ACCT 551 Week 2 Homework Assignment: P13-6, P13-7, P13-9
ACCT-551 Week 2 Quiz (2 Practice Versions: View Questions)
ACCT-551 Week 2 Discussion 1: Warranties, Premiums, And Coupons
Class, based on your study of chapter 13 of the textbook, FASB Codification research, and your research on the Internet, discuss how a company should account for warranty costs. What are premiums and coupons issued by a company? How do you measure and account for the cost of premiums and coupons?…………….
ACCT 551 Week 2 Discussion 2: Current Liabilities
Contingent liabilities present certain problems and opportunities for companies. You have been asked to help prepare the company’s annual report and a lawsuit has been brought against the company for $50 million. Your company counsel has indicated that the claim of liability may be questionable; however…….. reasonable. The question is then, what information should you include in your annual report and why?………………
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