Question
You are to log in to the FASB Codification and prepare responses to the following. In addition, you are to provide citations (ASC) from the
You are to log in to the FASB Codification and prepare responses to the following. In addition, you are to provide citations (ASC) from the Codification that support your conclusions. Please explain your answers.
Questions
1. Describe how a company would classify debt that includes covenants. What conditions must exist in order to depart from the normal rule?
2. If a company's outstanding shares are increased through a stock dividend or a stock split, how would that alter the presentation of its EPS data?
3. Briefly explain the conditions when a contract modification shall be accounted for as a separate performance obligation.
4. How should a lessor measure its net investment in either a sales-type lease or a direct financing lease?
5. How should cash flows from purchases, sales, and maturities of available-for-sale debt securities be classified and reported in the statement of cash flows?
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