ACCG310 final (1 Viewer)

[*hopeful*]

does anyone have a copy of the last 2 lecture examples ? as in filled out ones ?

also can someone please explain to me, in the cash flow statement question provided on webct, why we include 'purchase of patent' as an outflow in the statement ? i know we're accounting for the change in balance of patents and the amortisation expense but i dont get the whole 'purchase' bit cause its not like the company is buying the subsidiarys patent

 

[n00dl3~danc3r]

Lecture 10 eg yeah? when u reconstruct the patent account (amort and asset in one account) u see open bal dr $500, closing bal cr $900 and amort exp $50. The only solution is a purchase db of $450.

Gluck in exam, real rough subject.

 

[H?]

The purchase is like buying the rights to a patent from another company.

 

[*hopeful*]

^yeah but thats what i dont get, because they already own the patent ?
hate this subject

do either of u guys have the lecture examples from the last lecture ? the company income tax one ?

 

[n00dl3~danc3r]

i can email em to u. I have no idea how to attach them here.

 

[*hopeful*]

oh yes please please! i'll pm it to u now

 

[H?]

It's the additional acquisition over the year (creates the balancing entry).

This, combined with Microeconomics - both tomorrow is driving me insane.