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Question - Identify the best accounting model classification(s) for each of the investments described above below (1) IFRS.
1. Peach Inc. bought 5,000 shares in Pear Inc., a publicly listed company, for $2 per share. The shares in Pear Inc. are held to sell in the near term or to generate profits from short-term fluctuations in price.
2. Grapes Inc. purchased 1,000 shares in Cherry Inc for $2,500, as a long-term passive investment. Grapes Inc. management has indicated that they would like for any gains and losses related to these shares to bypass earnings.
3. Mango Inc. purchased $2 million in 2% bonds of Pineapple Inc. due in 10 years. Interest is payable annually. Mango Inc.'s business model is to hold the bond to maturity to collect contractual cash flows.
4. Banana Inc. purchased 22% of the shares of Plum Inc. for $50,000, and has demonstrated significant influence over Plum since the purchase.
a company uses an 8 discount rate and has a decision to make between four projects. project 1 has an annual cash inflow
Applying the carryback provisions in the tax law, compute the net amount of taxes paid (amounts paid less refunds) for the ten-year period ending December 31
If the firm's Retained earning had a $92,000 balance on January 1, 2017, at what amount should retained earnings be reported in the firm's balance sheet
Each unit requires 3.1 kilograms of raw material that costs $2.50 per kilogram. Prepare the company's direct labour budget for the upcoming fiscal year
On January 1, 2017, Blue Company purchased 8% bonds having a maturity value of $400,000, for $433,699.52. Prepare the journal entry at the date of the bond
The May 31 bank statement included a $100 debit memorandum for bank services; Prepare a bank reconciliation for the company using the above information
Arnold and Barbara Cane were divorced in June 2011. Pursuant to the divorce decree, Arnold is obliged to perform as follows.
the following information is available for sappys surgical shears for the fiscal year ending december 31 20xx.
The Village has three departments Public Safety, Administration, Streets and Parkways.
If a customer agrees to retain merchandise that is defective because the seller is willing to reduce the selling price, this transaction is known as a sales
negative opportunity costs can opportunity costs be negative? give an example p 2-5 j.p. max department stores j.p. max
Monica (not in the loan business) loaned Lateisha $25,000 two years ago. During the current year, Lateisha declared bankruptcy. The bankruptcy trustee informed the unsecured creditors that no assets are available for distribution from the bankrupt..
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