User Account

All Pages

What amount of gain on change in fair value will presented

Assignment Help Financial Accounting
Reference no: EM132551952

A public limited company, Renon Co, produces milk on its farms. As of January 1, 2020 Cromwell has a stock of 1,050 cows (average age, 2 years old). No animals were born or sold during the year. The unit values less estimated costs to sell were.

2-year old animal at December 31, 2020 4,500

3-year old animal at December 31, 2020 5,000

2-year old animal at January 1, 2020 4,000

Requirements:

Question 1. For the year 2020, what amount of gain on change in fair value will be presented in the income statement.

Question 2. What portion of the gain on change in fair value can be attributed to price change?

Question 3. What portion of the gain on change in fair value can be attributed to physical change?

Reference no: EM132551952

Questions Cloud

How would accounts change in response to twenty percent : How would these accounts change in response to a 20 percent stock dividend? Assume market value of equity is equal to book value of equity?
Location analysis has been narrowed : A location analysis has been narrowed down to three locations. The critical factors, their weights, and the ratings
Make journal entries to account for the revaluation : On 1 July 2020, it is decided to revalue the asset to its fair value of $150 000.Provide journal entries to account for the revaluation.
Change management principles : Please discuss the need for change management principles during a merger or acquisition.
What amount of gain on change in fair value will presented : Wwhat amount of gain on change in fair value will be presented in the income statement. What portion of the gain on change in fair value can be attributed
Discuss the need for change management principles : Please discuss the need for change management principles during a merger or acquisition.
Discuss some of the key factors : Discuss some of the key factors which may indicate to a manager that it's time for structural changes to a MNC's organisation?
Explain the erosion and synergy and decision trees terms : Explain the Erosion and Synergy and Decision Trees terms as they relate to capital investment/budgeting decisions. Provide the suitable example
What impact does the global economy : What impact does the global economy have on companies and their labor force?

Reviews

Write a Review

Financial Accounting Questions & Answers

  What non-financial factors should crossroad

Calculate net present value of each of the options and determine which option Crossroad should select using the NPV criterion and what non-financial factors should Crossroad consider before making its choice?

  What financial information about investment company holding

ACC201 - Financial Accounting Case study Assignment. What financial information about the investment company's holdings would be most relevant to you

  What is the equipments net salvage value

75% has been depreciated. The used equipment can be sold today for $4 million, and its tax rate is 40%. What is the equipment's net salvage value?

  Show the process costing system

Which of the companies would most likely use a process costing system and  the delivery of products or services to customers is an example of which element in the value chain

  Determine should the project be accepted

If you have arbitrarily set the required return at 32 per cent but the market rate of return for a project with this level of risk is 16 per cent

  Prepare the journal entry for the issuance of the note

Intermediate accounting 8th edition On October 1, Eder Fabrication borrowed $70 million and issued a nine-month, 6% promissory note. Interest was payable at maturity. Prepare the journal entry for the issuance of the note and the appropriate adjustin..

  Variance that may occur in debbie budget

Debbie is reviewing her monthly financial data. Discuss one potential variance that may occur in Debbie budget?

  Activity levels and cost

Activity levels and Cost Drivers Steve's slop shop, a small hamburger shop, has identified the resources used in its operations ( assume each customer's order is a batch for this example)

  Annual percentage interest rate

The Wet Dog Surf Company borrows $30,000 for 11 months and will pay $2,887.50 interest . Calculate Wet Dog's Annual Percentage Interest Rate (APR) (rounded to two decimal places).

  What was ending inventory and cost of goods sold

Other operating costs equaled $80,000 and their tax rate is 30%. Round final answers to the nearest dollar. What was ending inventory and cost of goods sold on 12/31 under the LIFO cost flow assumption?

  Prepare schedules reconciliation of incomeper books

Prepare Schedules M-1: Reconciliation of Income (Loss) per Books with Income per Return using financial data in the Appendices.

  Cash disbursement for selling and administrative expenses

Lahay Inc. bases its selling and administrative expense budget on the number of units sold. The variable selling and administrative expense is $4.40 per unit. The budgeted fixed selling and administrative expense is $30,250 per month, which includes ..

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