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    Question: FV dropped in Year One. Why wasn't a loss taken in Y1 NOT Y2?
    Charles-65617 - 08/13/2018, 8:45 pm
    Agreed the fair value of investment was 209000 at end of year 1. But the Investment should be 211000 after adding Net income, subtracting dividends. There is obviously a 2000 loss attributable to stock price (Fair value) Losses are taken Immediatly, why isn't the loss taken in Year 1? My answer, "0" change in Y2 cause i say the loss should be taken y1. Explain
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    convention
    user-1476 - 08/13/2018, 9:32 am
    half quarter convention is applied, isn it ?
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    Restructuring losses
    Charles-65617 - 08/13/2018, 3:24 am
    The restructuring loss of $300,000 You normally think, "Take the expenses as soon as possible", so in year 1. That's wrong though. The loss does not become Realized until Employees are communicated about it. "Restructuring termination costs" Would be a major spoiler on the balance sheet. Telling the Employees is the "Point of No Return" That's when the Expense is REAL. They know about it!
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    Is this the correct year
    Sinead-99789 - 08/12/2018, 4:18 pm
    Should this question ask what the lessee should report at the end of Year Two as a liability - not year one as in the question - the answer appears to be for Year Two ....
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    K
    Shouldn't tax amount be 19,200 ?
    Khalid706 - 08/12/2018, 4:41 am
    What i did is simple, 60,000 x 32 / 100 = 19,200. can someone explain how does the answer become 20,000? Thanks
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    What about the cash distributions?
    user-1299 - 08/12/2018, 1:33 am
    Aren't they part of the operating cost?
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    fruad
    user-1476 - 08/10/2018, 12:46 am
    It doesnt say that Javier committed gross negligence or fraud, does it ? being liable to foreseeable party only when committing gross negligence or fraud, right ?
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    Statement of Functional Expenses
    Gabriele-19406 - 08/7/2018, 7:28 pm
    Hi: My FAR study guide (Wiley) states that the Stmt of Functional Expenses is only required for Private Non-Profit Health and Welfare organizations. This question states it is required for all NFP. Has there been a recent change and if so, which answer would be correct on the exam (scheduled to take end of this month). Thank you in advance for any response.
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    Maturity Date
    Khalid706 - 08/5/2018, 10:16 pm
    Can someone explain that will the bond in its maturity date go up or down or remain the same and is it risky to buy bonds within the maturity date? Thanks
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    Entertainment Exp
    Travis-75377 - 08/4/2018, 2:08 am
    isn't meals at 50% and entertainment disallowed now?
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