Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 21 Mar 2018 My Price 7.00

Simpson Corp

(Income Reporting Items) Simpson Corp. is an entertainment firm that derives approximately 30% of its income from the Casino Knights Division, which manages gambling facilities. As auditor for Simpson Corp., you have recently overheard the following discussion between the controller and financial vice president.

Instructions

(a) On the basis of the foregoing discussion, answer the following questions. Who is correct about handling the sale? What would be the correct income statement presentation for the sale of the Casino Knights Division?

(b) How should the walkout by the employees be reported?

(c) What do you think about the vice president’s observation on materiality?

(d) What are the earnings per share implications of these topics?

Answers

Maurice Tutor
(5)
Status NEW Posted 21 Mar 2018 07:03 AM My Price 7.00

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