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Assignment 2 Value: 35% Return date: 05 Oct 2014 Submission method options Alternative submission method Task Please note this assignment consists of questions from Horngren, C.T., Sundem, G.L., Stratton, W.O. Burgstahler, D., & Shatzberg, J. Introduction to management accounting, (16th edition 2014). You are required to complete all questions and submit all necessary workings. Follow the assignment requirements (refer below to the Requirements section) very closely. Content Assessed?Topics 2, 3, and 4?? Question 1 16 2, 16 6, 16 33 (illustrate your explanation with a numerical example).?Source: Horngren, et al. (2014). Introduction to management accounting (16th ed., p. 719). Pearson. 16 2.   Why should short term prepaid expenses be classified as current assets? 16 6.   What factors influence the estimate of useful life in depreciation accounting? 16 33. Study Appendix 16A. Suppose prices are rising and inventories are increasing. Which of the four generally accepted inventory accounting methods will usually result in the highest net income? Explain. Illustrate your explanation with a numerical example.       Question 2 16 A1 Reigle Balance Sheet and Income Statement?Source: Horngren, et al. (2014). Introduction to management accounting (16th ed., p. 716). Pearson. The Reigle Company had the following items on its December 31, 20X0 balance sheet and 20X0 income statement (in dollars except for the number of shares outstanding):  Cash and equivalents?$   60,000??Revenues?$ 790,000??Notes Payable?$   51,000??Long term debt, excluding current portion?$ 210,000??Accounts Receivable, net?$ 48,000??Provision for income taxes?$ 60,000??Other long term assets?$ 110,000??Interest expense?$ 55,000??Deferred income tax liability – long term?$ 44,000??Retained earnings?$ 204,000??Income taxes payable?$ 37,000??Cost of sales?$ 470,000??Inventories?$ 36,000??Prepaid expenses?$ 15,000??Common stock (50,000 shares)?$ 25,000??Property, Plant and equipment, at cost?$…

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