User Account

All Pages

Prepare the journal entries required under ifrs

Assignment Help Accounting Basics
Reference no: EM132779763

Panthers Corp. purchased 8,000 shares of Canes Corp. for $100 per share on August 1, 2019. As per IFRS 9, Panthers chose to classify this new investment as FVOCI at the time of the purchase. On November 1, 2019 Canes paid a dividend of $2 per share. At balance sheet date the market price of Canes was $90 per share. On March 1, 2020 Panthers sold all 8,000 shares for $105 per share.

Required

Problem 1: Prepare the journal entries required under IFRS as well as those that would be required under GAAP.

Reference no: EM132779763

Questions Cloud

Binomial tree-change of numeraire : Consider a one-step, two-state world where a stock has current price 100. After one year the stock is worth 110 with probability 0.8, and 90 with probability 0.
What is the coupon rate of bond : Consider the following bond where the coupons are paid annually, Bond: HSBCPrice: $1057.75YTM: 7%
Do think that recognize as sales revenue correct and explain : Do you think that recognize it as sales revenue is correct? Goods produced by Corp A are heavy equipment such as: Excavators, Bulldozers, Mobile Cranes
What is percentage return on equity for trade : The current market price for XYZ is $55 per share. Initial margin is 50%, maintenance margin is 35% and margin interest is 1.75% per year.
Prepare the journal entries required under ifrs : Panthers Corp. purchased 8,000 shares of Canes Corp., Prepare the journal entries required under IFRS as well as those that would be required under GAAP.
Determining the dividend-growth model : If you want to earn 10 percent on your funds, is this a good buy based on the dividend-growth model?
Calculate shane net tax payable or refundable : For the year ended 30 June 2020, calculate Shane net tax payable or refundable. Shane is an Australian residentoverseas bank accountadequate private health
Will michael account balance in seven years : a. Will Michael's account balance in seven years be enough to pay for his trip?
Create schedule showing the allocation of the consideration : Create schedule showing the allocation of the consideration transferred in relation to the acquisition made on January 1, 2012.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd