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Problem 1: On 1 July 20X0 Alpha Ltd received emission trading allowances (ETAs) for 1,000 tonnes of carbon dioxide from the government at no cost. The fair value of ETAs was $32 per tonne at 1 July 20X0, but had increased to $40 per tonne at 30 June 20X1 and remained at $40 per tonne until 31 August. Alpha Ltd emitted 500 tonnes of carbon dioxide during the year. Settlement is due 31 August. If Alpha Ltd uses the IFRIC 3 model without revaluation to account for the ETAs, the carrying amount of the Emission liability at 30 June 20X1 is: On settling the emission liability, Alpha would recognise
Option 1: A loss on settlement in profit or lossOption 2: A gain on settlement in profit or lossOption 3: A loss on settlement in other comprehensive incomeOption 4: A gain on settlement in other comprehensive income
Barbo is a partner and has an annual salary of 24,000 but actually draws 3,000 per month. What is the total annual salary that should be used to allocate profit
Analyze the above information and prepare an income statement for the year 2014, starting with income from continuing operations before income tax
Construct an amortization schedule. A debt of $5000 is amortized by making equal payments at the end of every 3 months for 2 years.
Plot the relationship between advertising costs and revenues. Use the high-low method to compute the function, relating advertising costs and revenues
The farmhands and the bookkeeper make $25,000 a year, and the mechanic makes $32,000 annually. What is the competitive strategy for Fowler Farm
on december 31 2012 donovan inc had outstanding 400000 shares of common stock and 42500 shares of 8 cumulative
Assume that a retired businessman bought an insurance plan at a cost of $170,250 on January 1, 2019. How much will he receive every year
Journalize the transactions in a general journal using the periodic inventory method. If an amount box does not require an entry, leave it blank
Evan Erman transferred inventory to a corporation in a Code Sec. 351 transaction. His basis in the inventory was $10,000 and its value was $8,000. If he received $2,000 in cash and 100 shares of stock, the resulting bases are:
During May, Kimbrell Manufacturing completed and transferred out 100,000 units. Using the weighted average method, calculate the equivalent units
Suppose the accountant has wrongly computed the closing stock while adding stocks, to an extent of 30%. What would be the impact on the profit of the Alpha Ltd
What are the final steps of all the transaction processing is complete? After these steps are all complete and prepare the financial statements in what order
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