Essays on Specific Reference

The Influence of the Repeal of the British Usury Laws

Introduction The recent few years have experienced a dramatically high growth in the interest rates globally, which is also believed to have reach a historically high rate. This growth, with specific reference to the existing interest law, has resulted in serious concerns related to the development of credit markets. The reasons behind the efforts on developing credit markets is essentially due to the reason that in quite a few jurisdictions, the restrictions on usury or the interest have normally stayed at the lower level of interest rates that were formerly established. The ultimate outcome of this is that debtors ...

Scenario 1

Since Johnson Corporation repurchased the shares for purposes of resale and not for constructive retirement, they are treated as treasury shares. Gain on sale of treasury stock is treated as a capital surplus. The Controller of Johnson Co. should credit the amount in the capital surplus account. On the date of repurchase of these shares, an entry is made to reduce capital by the cost incurred by the firm to repurchase the shares.

The Controller should make the following entry:

DR Treasury Stock 700 CR: Capital Surplus/ 700 Specific reference and associated literature ASC 505-30 states the guideline for the treatment of gains on ...

Vineland Adaptive Behavior Scales-II:

Issues Related to Result Interpretation and Test Validity Vineland Adaptive Behavior Scales-II: Issues Related to Result Interpretation and Test Validity The Vineland Adaptive Behavior Scales-II (Vineland-II; Sparrow, Cicchetti & Balla, 2004) is a psychometric test used to measure adaptive behavior. Adaptive behavior is defined as the ability to achieve a level of personal independence and social responsibility consistent with expected levels from individuals cultural and age group (Perry & Factor, 1989). The Vineland-II test is comprised of four domains of adaptive behavior: (1) Communication, (2) Daily Living, (3) Socialization, and (4) Motor Skills. The Maladaptive Behavior Index measures maladaptive behaviors, ...