Business Administration 2257 Study Guide - Final Guide: Preferred Stock, Accrued Interest, Issued Shares

• School: Western University
• Department: Business Administration
• Course: Business Administration 2257
• Professor: Richie Bloomfield

Document Summary

O/b rm found on last year"s cogm document. O/b wip found on last year"s cogm document. E/b wip = prm (given) + pdl (given) + pfoh: pfoh = partial proxy x total foh (in wip) O/b finished goods found on last year"s income statement. Specific identification value everything at unique market price. Weighted average cost cogafs x e/b in units. Fifo oldest inventory is sold first; e/b is valued at most recent price. Straight line = hc rv x n. Units of production = hc rv x units. Declining balance = hc ad x n. Finance leases treated as asset w/ liability (1) reasonably certain the asset will be transferred/purchased (2) lease duration extends for majority of asset"s economic life (3) at inception of lease, pv of lease payments. = all of value of asset (4) leased asset is specialized and can only be used by lessee without modification. Dr asset under lease, cr lease obligation.