My writer delivered an awesome dissertation on the Creek War, I definitely didn’t have the time to do all the research she did on my own.
Essay (any type)
09/08/2022
Income Statement Deficiencies David Company’s Statements of Income for the year ended December…
Income Statement Deficiencies David Company’s Statements of Income for the year ended December 31, 2011, and December 31, 2010, are presented here: Additional facts are as follows: a. On January 1, 2010, David Company changed its inventory method from the average cost method to the first-in, firstout method, and justified the change. b. The loss from operations of the discontinued Dex Division (a component of the company) from January 1, 2011 to September 30, 2011 (the portion of the year prior to the date of sale) and from January 1, 2010 to December 31, 2010, is included in David Company’s Statements of Income for the year ended December 31, 2011 and December 31, 2010, respectively, in “other, net.” c. David Company has a simple capital structure with only common stock outstanding, and the net income per share of common stock was based on the weighted average number of common shares outstanding during each year. d. David Company common stock is listed on the New York Stock Exchange and closed at $13 per share on December 31, 2011, and $15 per share on December 31, 2010. Required Determine from the additional facts listed whether the presentation of those facts in David Company’s Statements of Income is appropriate. If the presentation is appropriate, discuss the rationale for the presentation. If the presentation is not appropriate, specify the appropriate presentation and discuss its rationale. Do not discuss disclosure requirements for the Notes to the Financial Statements.
