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!
Question - Pristine Resources Company, (PRC), a privately held company with widely traded bonds on the open market and with a December 31, year-end had the following items and issues pertaining to its 2020, year-end. Assume all amounts provided are material to the operations of PRC.
PRC issued on January 1, 2015, $10,000,000, 4%, interest paid semi-annually (June 30 & December 31), 20 year debenture bonds at a market yield of 5% (Bank of Canada rate at this time was 2.5%) and proceeded to account for these bonds at amortized cost. As at December 31, 2020, PRC elected to report these bonds a fair value when the market rate of interest was 6% (Bank of Canada rate at this time was 3%).
Required - What classification, description and amount would be reported on the properly classified liability section of the Statement of Financial Position as of December 31, 2020?
What was the quarterly interest rate? On April 1, Year 2016, Ismail Berhad made a deposit of RM 100,000 in a fund and left the fund undisturbed
John Good graduated from USC five years ago. Provide three examples where judgement is benignly used in financial reporting.
How much money is in the college fund today? Kumar has been saving up for a college fund for his oldest daughter. He deposited $5,000 initially
You are a sole proprietor. This year you incurred an expense of $152 for office supplies, but you have lost the receipt. Will you deduct this expense on your tax return? Explain your reasoning briefly.
If a firm uses the weighted average cost of capital (WACC) to evaluate all projects, irrespective of risk, it may reject projects incorrectly. Explain.
The sales manager believes sales could be increased by 625 units of advertising expenditure were increased by 14000$. If advertising expenditures are increased and sales increas by 625 units, the effect on operating income will be a :
Summarize the effects of different compounding periods and interest rates on future value of money. a 5-year loan made on June 1
Calculate Euclid's cost recovery deduction for 2019 and 2020. Euclid acquires a 7-year class asset on May 9, 2019, for $120,100 (the only asset acquired)
Explain what other factors Sprint sport should consider. Explain if the company should accept the project or not? Calculate the payback back period of project.
Beginning inventory $110,000; ending inventory $70,000; cost of goods sold $1,100,000; and sales $1,600,000. Hoover's days in inventory in 2017 was
After two years, the truck was sold at a price above its book value for financial statement purposes. Adel Corporation should report this sale as
Solve the NPV of the replacement decision and choose the best answer below. NOTE: DO NOT make any assumptions regarding the tax treatment for the gain
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