Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Cascade Alais Inc. (CA) has used the completed-contract method to account for long-term construction contracts since its inception in 2018. In 2020, CA decided to change to the percentage-of-completion method because it is the industry norm. CA previously used the completed-contract method for income tax purposes and will continue to do so. Its income tax rate is 20%.
The following lists CA 's income under each of the two income recognition methods: Year ended December 31Income before taxes 2018 2019 2020Completed-contract method (reported) $ 80,000 $ 120,000 $ 170,000 Percentage-of-completion method(calculated) $ 100,000 $ 150,000 $ 200,000
Required:
Problem 1: Make the journal entry to reflect the accounting change in 2020, the year of the change.
Discuss the potential advantages and disadvantages that countries outside the United States should consider before adopting regulations such as those in the Sarbanes-Oxley Act, that increase corporate internal control requirements.
Determine What is the amount of each payment? And what is the total amount of interest that will be paid during the first year?
Using the two-stage dividend discount model (DDM), what is the fundamental value in year 2022? The discount rate for X's cash flows is 20%.
Indicate whether a debit or credit is required to close each of the following accounts. Use the symbols D if a debit is required , C if a credit is required, N if the account is not closed at the end of the period.
Prepare Track Ltd's statement of cash flows for the year to 30 June 2014. The summarized statements of financial position relate to Track Limited
It also has $300 million in outstanding debt. If its equity cost of capital is 15%, and its debt cost of capital is 9%, and its effective corporate tax rate is 40%, what is its weighted average cost of capital?
What is the hotel's average daily rate, if the property's percentage of rooms revenueto total revenue is 62.9% and occupancy percentage is 67.8%?
Compute Berclair's basic and diluted earnings per share for the year ended December 31, 2021. (Enter your answers in millions (i.e., 10,000,000 should be enter)
calculation of over heads to be assigned to a unit of output.lakeside companys budget for the coming year includes
Why is the accumulated deficit larger in the current year than in the prior year?
Explain the appropriate treatment of each item in accordance with IAS 38. A company generated a customer list and brand internally, which deems highly valuable.
Find What is the average unit cost? In its first month of operations, Coronado Industries made three purchases of merchandise in the sequence.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd