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.

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more