Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org) and select Basic View for free access. Determine the specific eight- or nine-digit Codification citation (XXX-XX-XX-XX) for accounting for each of the following items: Required: 1. Disclosure requirements for maturities of long-term debt. 2. How to estimate the value of a note when a note having no ready market and no interest rate is exchanged for a noncash asset without a readily available fair value. 3. When the straight-line method can be used as an alternative to the interest method of determining interest. Requirement 1 2 3 Topic 470 Subtopic 20 Section 50 Paragraph
Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org) and select Basic View for free access. Determine the specific eight- or nine-digit Codification citation (XXX-XX-XX-XX) for accounting for each of the following items: Required: 1. Disclosure requirements for maturities of long-term debt. 2. How to estimate the value of a note when a note having no ready market and no interest rate is exchanged for a noncash asset without a readily available fair value. 3. When the straight-line method can be used as an alternative to the interest method of determining interest. Requirement 1 2 3 Topic 470 Subtopic 20 Section 50 Paragraph
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sagar
Transcribed Image Text:Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org) and select Basic View for free access.
Determine the specific eight- or nine-digit Codification citation (XXX-XX-XX-XX) for accounting for each of the following items:
Required:
1. Disclosure requirements for maturities of long-term debt.
2. How to estimate the value of a note when a note having no ready market and no interest rate is exchanged for a noncash asset
without a readily available fair value.
3. When the straight-line method can be used as an alternative to the interest method of determining interest.
Requirement
1
2
3
Topic
470
Subtopic
20
Section
50
Paragraph
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