The accounting for certain Investments (such as marketable securities) is controversial because it violates the historical cost principle. Discuss why, in your view, this deviation may (or may not) be appropriate.

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1. The accounting for certain Investments (such as marketable securities) is controversial because it violates the historical cost principle. Discuss why, in your view, this deviation may (or may not) be appropriate. 2. Explain treasury stock, including: a. c. The definition b. Why companies might decide to purchase treasury stock How to account for the purchase and resale of treasury stock (no journal entries necessary) d. Where to show treasury stock in the balance sheet 3. Explain the concept of present value and give an example of how it could help with personal financial planning. 4. Why may bonds sell at a premium? To avoid this situation, why doesn't the company just use a more appropriate interest rate when preparing the bonds initially? 5. Why is the earnings per share number useful to investors? Briefly explain diluted earnings per share and why it reflects conservatism. 6. You have just received your first paycheck in a new job. Explain the reasons why the net amount of your check may be considerably less than the salary you were promised. 7. Explain the pros and cons for investors of owning each of the following types of securities: bonds, preferred stock, common stock. 8. For the estimation method of accounting for bad debts (as dictated by GAAP): a. Explain the balance sheet method and the income statement method of determining the amount of the journal entry for uncollectible accounts expense. b. Which journal entry has the true impact on financial statements: estimation of bad debts or write-off of specific accounts? Explain