This is the question and my answer that I gave. It was turned back to me needing revision.
Get perfect grades by consistently using www.college-experts.com. Place your order and get a quality paper today. Take advantage of our current 20% discount by using the coupon code GET20
Order a Similar Paper Order a Different Paper
This is the question and my answer that I gave. It was turned back to me needing revision.
An estimate of 2015 royalties from a patent on a new, untested medical diagnostic device that Dr. Fiddle bought last year from a colleague who invented but sold it because she is about to retire in Bermuda.
No. Should not be on the financial statement. The 2015 royalties are an estimate.
The accounting principal most applicable is:
Business Entity Principle (Accounting Entity) It’s similar to an appraisal and it does not affect revenue for 2013-2014. Non-Monitory Principle. It’s an estimate, there is no cash transaction for 2013-2014.
I was told that the Monitory Principle needed revision.
Do you need help with this or a different assignment? We offer CONFIDENTIAL, ORIGINAL (Turnitin/LopesWrite/SafeAssign checks), and PRIVATE services using latest (within 5 years) peer-reviewed articles. Kindly click on ORDER NOW to receive an A++ paper from our masters- and PhD writers.
Get a 15% discount on your order using the following coupon code SAVE15
Order a Similar Paper Order a Different Paper