State whether any ethical principles are violated, if the accountant is not aware of the proper treatment of these expenditures.

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Please give me true answer this financial accounting question

Answer 1

Question

Chapter 20, Problem 1EC

1.

To determine

State whether any ethical principles are violated, if the accountant is not aware of the proper treatment of these expenditures.

2.

To determine

State the way in which the expenditures can be treated.

3.

To determine

Write a short memo explaining the way in which the costs of organizing a corporation are treated for accounting purposes.

4.

To determine

Discuss the difference between the making unethical decision and making careless decision.

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Bowtock purchased an item of plant for $2 million on 1 October 20X0. It had an estimated life of 8 years and an estimated residual value of $400000. The plant is depreciated on a straight line basis. The tax authorities do not allow depreciation expense .Instead a tax expense of 40% of the cost of this type of asset can be claimed against income tax in the year of purchase and 20% per annum (on a reducing balance method) of tax base thereafter.The rate of income tax can be taken as 25% . Calculate deferred tax charger / credit in the statement of profit or loss and deferred tax balance in statement of financial position

Answer 2

Question

Chapter 20, Problem 1EC

1.

To determine

State whether any ethical principles are violated, if the accountant is not aware of the proper treatment of these expenditures.

2.

To determine

State the way in which the expenditures can be treated.

3.

To determine

Write a short memo explaining the way in which the costs of organizing a corporation are treated for accounting purposes.

4.

To determine

Discuss the difference between the making unethical decision and making careless decision.

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Answer 3

Question

Chapter 20, Problem 1EC

1.

To determine

State whether any ethical principles are violated, if the accountant is not aware of the proper treatment of these expenditures.

2.

To determine

State the way in which the expenditures can be treated.

3.

To determine

Write a short memo explaining the way in which the costs of organizing a corporation are treated for accounting purposes.

4.

To determine

Discuss the difference between the making unethical decision and making careless decision.

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Answer 4

Question

Chapter 20, Problem 1EC

1.

To determine

State whether any ethical principles are violated, if the accountant is not aware of the proper treatment of these expenditures.

2.

To determine

State the way in which the expenditures can be treated.

3.

To determine

Write a short memo explaining the way in which the costs of organizing a corporation are treated for accounting purposes.

4.

To determine

Discuss the difference between the making unethical decision and making careless decision.

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Answer 5

Chapter 20, Problem 1EC

1.

To determine

State whether any ethical principles are violated, if the accountant is not aware of the proper treatment of these expenditures.

2.

To determine

State the way in which the expenditures can be treated.

3.

To determine

Write a short memo explaining the way in which the costs of organizing a corporation are treated for accounting purposes.

4.

To determine

Discuss the difference between the making unethical decision and making careless decision.

Answer 6

Chapter 20, Problem 1EC

1.

To determine

State whether any ethical principles are violated, if the accountant is not aware of the proper treatment of these expenditures.

Answer 7

Chapter 20, Problem 1EC

1.

To determine

State whether any ethical principles are violated, if the accountant is not aware of the proper treatment of these expenditures.

Answer 8

2.

To determine

State the way in which the expenditures can be treated.

Answer 9

2.

To determine

State the way in which the expenditures can be treated.

Answer 10

3.

To determine

Write a short memo explaining the way in which the costs of organizing a corporation are treated for accounting purposes.

Answer 11

3.

To determine

Write a short memo explaining the way in which the costs of organizing a corporation are treated for accounting purposes.

Answer 12

4.

To determine

Discuss the difference between the making unethical decision and making careless decision.

Answer 13

4.

To determine

Discuss the difference between the making unethical decision and making careless decision.

Answer 14

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Answer 15

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Ch. 20 - Prob. 1TF Ch. 20 - Prob. 2TF Ch. 20 - Dividends are not taxable because these earnings...Ch. 20 - Prob. 4TF Ch. 20 - Prob. 5TF Ch. 20 - Prob. 1MC Ch. 20 - Prob. 2MC Ch. 20 - Prob. 3MC Ch. 20 - Stock subscriptions receivable are listed as...Ch. 20 - Treasury stock is listed as a(n) __________ on the...

State whether any ethical principles are violated, if the accountant is not aware of the proper treatment of these expenditures.

Solution Summary: The author opines that the accountant has followed proper procedure for reporting organizational costs. Attorneys' fees and promotional expenses are considered to benefit the entire life of a corporation.

State whether any ethical principles are violated, if the accountant is not aware of the proper treatment of these expenditures.

State the way in which the expenditures can be treated.

Write a short memo explaining the way in which the costs of organizing a corporation are treated for accounting purposes.

Discuss the difference between the making unethical decision and making careless decision.

Chapter 20 Solutions