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Problem 1: If an organisation received non-cash consideration from a customer in return for providing a good or service, then how would the entity determine how much to assign to sales revenue? (Please, articulate your answer based on AASB 15).
Problem 2: If an entity recognises the revenue associated with a contract with a customer over time (rather than at a point in time), would this approach be considered more conservative than an approach that defers profit recognition until the completion of the contract (that is, at a future point in time)?
Problem 3: First Point Ltd commences operations by issuing 1 million shares at a price of $1.40 per share, payable in full on application. Application monies are received on 31 July 2023 and the shares are allotted on 4 August 2023. The share issue is made as a result of an offer being made to the public.
Problem 4: Provide the journal entries to account for the receipt of the application monies and the subsequent allotment of the shares.
A project has a 7 year life and costs $400,000. Depreciation is straight line to zero over the life of the project and there is no salvage value.
Frazer Corporation purchased 60 percent of Minnow Corporation’s voting common stock on January 1, 20X1. On January 1, 20X5, Frazer received $297,000 from Minnow for a truck Frazer had purchased on January 1, 20X2, for $387,000. Prepare the worksheet ..
Journalize the entries to record the investments of Keene and McKee in the partnership accounts. Prepare a balance sheet as of March 1, 2014, the date of formation of the partnership of Keene and McKee.
If the appropriate equity cost of capital for Procter and Gamble is 8.7% per? year, use dividend-discount model to estimate its value per share at end of 2018.
emergency calls to winter park floridas 911 system for the past 24 weeks are as follows attached excel dataa evaluate
company buys building for $173,000 for propety tax purposes in exchange for 10,000 share of $4 par common stock, what amount does the company record the building for?
A company incurred the following transactions: Wages of $2,200 accrued at the end of the prior fiscal period were paid this fiscal period. Real estate taxes of $5,800 applicable to the current period have not been accrued. Show the effect, if any, of..
On September 30, 2019 the company repurchased 500,000 shares of common stock. What is the number of common shares outstanding at December 31, 2019?
What is the least number of calories possible in a package. How much should be invested in each to maximize annual interest? What is the maximum annual interest?
A company factored $38,000 of its accounts receivable and was charged a 1% factoring fee. The journal entry to record this transaction would include a:
What is the effective yield to maturity? (Assume annual compounding. Do not round intermediate calculations. Enter your answer as a percent rounded)
timbuk 3 inc. has finished a new video game snowboard challenge. management is now considering its marketing
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