Depreciation

Assessment 3 The modified cash basis of accounting uses elements of both the cash basis and accrual basis of accounting. The cash basis you recognize a transaction when there is either incoming cash or outgoing cash. The receipt of cash from a customer triggers the recordation of revenue, while the payment of a supplier triggers the recordation of an asset or expense. The accrual basis you record revenue when it is earned and expenses when they are incurred, irrespective of any…

The non-custodial parent (NCP), Mr. Robinson’s testimony revealed that he disagrees with the arrears set by Jefferson County; want clarification of all the payments for child support since 2013 to the present day. He stated that he is current and has made payment for each reporting month. The NCP’s legal representative stated that they wanted to focus on all the information that was provided by the NCP. The information clearly lay out everything the NCP is trying to get across; mainly there…

To the Trustees: We are writing this memorandum in response to your inquiry regarding the value of Houses LLC, having an address at 123 4th Avenue in New York, NY (“Company”). The Trusts own a majority share of Houses LLC, a real estate management company which manages a real estate portfolio held and controlled by affiliated parties. You have requested us, in your capacity of a fiduciary to the Trusts, to analyze the value of Houses LLC in anticipation of a sale to Messrs. John and Jane for a…

If you have been injured on the job or a family member died in a work-related injury, you might have been told there are specific deadlines for when information must be reported to ensure the person gets the full benefits of workers' compensation. As Pueblo Workers' Comp Lawyers, we want to make sure you do not miss any important dates and that you can therefore get the full benefits you deserve. An employer should immediately report any accident which results in a fatality. If your family…

Archibold, C. R. (2006, March 4). Ex-Congressman Gets 8-Year Term in Bribery Case. New York Times. Retrieved from http://www.nytimes.com/2006/03/04/politics/04cunningham.html Associated Press. (2006, March 4). Ex-congressman begins prison sentence. NBC NEWS. Retrieved from http://www.nbcnews.com/id/11655893/ns/us_news-crime_and_courts/t/ex-congressman-begins-prison-sentence/#.Vm2tY7-bbFk Bachrach, J. (2006, July 31). Washington Babylon. Vanity Fair. Retireved from…

ACCOUNTING FOR INTANGIBLES—U.S. GAAP I. GENERAL PRINCIPLES The broad principles governing the accounting for Intangible assets are laid out in APB 17. According to APB 17, Paragraph 9, a company should record costs of intangible assets acquired from others, including goodwill, as an asset. All costs incurred to develop intangible assets that are not specifically identifiable should be recorded as expenses. Where an intangible asset has been recorded, its cost should be amortized by systematic…

IRS Pronouncements 1. Rev. Rul. 68-363, 1968-2 CB 336 -- IRC Sec. 1031 - Based upon the ruling, it appears as though the main question was whether or not the location of the property transferred affects the applicability of Section 1031, which addresses the nonrecognition of a gain. For the particular taxpayer discussed in this ruling, he had exchanged a ranch in the United States for a Ranch in a foreign country and received $250,000 in cash. The taxpayer originally realized a gain of $300,000…

Arbor's Oklahoma City Office Originates Nearly $30 Million in Loans Arbor Commercial Mortgage, LLC (“Arbor”), national direct commercial real estate lender, announced in November that it funded six loans totalling nearly $30 million. Under the Fannie Mae DUS Small Loan, Freddie Mac Small Balance Loan, and FHA 223(f) programs, the mortgage company was able to secure the funding across multiple cities in Michigan -- with Vice President Mike Jehle of Arbor’s Oklahoma City office originating the…

Transfer of Receivable with recourse Question: “Search accounting standards to determine when the sale with recourse must be shown on the balance sheet as liability and when it can be considered as a true sale and no liability need be shown.” Answer: Accounting standards to determine when the sale of receivables with recourse must be shown on the balance sheet as a liability or as a true sale actually is based on ASC 860. ASC 860 established the procedures used to determine whether the sale of…

10,000 hours is that the key? In the bestseller Outliers, Malcolm Gladwell Makes a whole chapter on the 10,000 hour rule. In this essay I will be explaining my reason for being for this rule and not against. Now to start off this essay I’m going to be explaining why some people will be against me in my claim. One of these reasons is that all of the people that were used as examples in the book Outliers all had talent before they got into what they became famous in the fields they pursued. Then…