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Explain the requirements of AASB112 in relation to the recognition of defer tax and assets from long service leave and retrenchment liabilities, and discuss how these requirements differ from the recognition requirements for deferred tax assets from tax loss.
Discuss whether the deferred tax assets from the employee benefits liabilities in the prior year should have been recognized, and whether the tax loss in the current year should be recognized as a deferred tax asset.
You are presented with the following extract from the business accounts at 30 June 2015. Note that the information provided represents an extract from the business accounting records only. Prepare an Income Statement for the year ended 30 June 2015. ..
Critically evaluate short term liquidity using the ratios - Discuss the ratio results and not calculate
Hailstorm Company sells a single product for $22 per unit. Variable costs are $14 per unit and fixed costs are $60,000 at an operating level of 7,000 to 12,000 units. What is Hailstorm Company's break-even point in units? How many units must be sold ..
CharCore mixes together wood chips and pine oil. After joint manufacturing costs of $2,000 have been incurred, the mixture separates into two products, granulated charcoal and methyl alcohol. The alcohol can be further processed at a cost of $7,000 t..
Mohammed Abul and his family own the Long-lasting Boot (LLB) store. LLB is a specialty boot store located in the downtown area in a medium sized Scottsdale, Arizona and sells a broad line of boots to all members of the family including a novelty pet ..
If converting $1,500,000 bonds into 12 shares of stock (with no par value) for each $1,000. What would be the value of the stock and what would be the journal entry for the conversion? (assuming book value method is used)
Panther co. had a warranty liability of $350,000 at the beginning of 2011, and $310,000 at the end of 2011. Warranty expense is based on 4% of sales, which were $50 million for the year. What were the warranty expenditures for 2011?
Perform horizontal financial analysis
The stated interest rate on the borrowed funds is 10%. What is effective annual rate of interest on the line of credit?
Zink Company manufactures a high-tech component that passes through two production processing departments, Molding and Assembly.
The chief cost accountant for Fizzy Fruit Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning April 1 would be $210,000, and total direct labor costs would be $150,000. What is the ..
What adjustment for unearned revenue did Microsoft make at June 30, 2004? Indicate each account affected, whether the account is increased or decreased, and the amount of the increase or decrease.
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