Question;Week 3;Discussions;To participate in the following discussions, go to this week's Discussion link in the left navigation.;LIFO vs. FIFO;The controller of Sagehen Enterprises believes that the company should;switch from the LIFO method to the FIFO method. The controller?s;bonus is based on the next income. It is the controller?s belief;that the switch in inventory methods would increase the net income of the;company. What are the differences between the LIFO and FIFO;methods?;Guided Response;Analyze several of your peers? posts. Let at least two of your peers;know if a company is better off it switches from a LIFO method to a FIFO;method? Explain your reasoning.Depreciation;A variety of depreciation methods are used to allocate the cost of an;asset to all of the accounting periods benefited by the use of the;asset. Your client has just purchased a piece of equipment for;$100,000. Explain the concept of depreciation. Which of;the following depreciation methods would you recommend: straight-line;depreciation, double declining balance method, or an alternative method?;Guided Response;Let at least two of your peers know if a company would use an accelerated;depreciation method for their financial statements or their tax;returns. Why do you believe this would be the case?;Exercise Assignment;To complete the following assignment, go to this week's Assignment link in the left navigation.;Inventory;Please complete each of the exercises below in a word document. Save the;document, and submit to in week using the Assignment Submission;button.
Paper#45440 | Written in 18-Jul-2015Price : $33