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Problem 1: Animals related to recreational activities shall be accounted for under what standard? *
a) IAS 41-Agricultureb) IAS 16-Property, plant and equipmentc) IAS 40- Investment propertyd) Either IAS 41 or IAS 16
Problem 2: An entity had a plantation forest that is likely to be harvested and sold in 30 years. The income should be accounted for in which of the following way?
a) No income should be reported annually until first harvest and sale in 30 yearsb) Income should be measured annually and reported using a fair value approach that recognizes and measures biological growth.c) The eventual sale proceeds should be estimated and matched to the profit and loss accountd) The plantation forest should be valued every 5 years and the increase in value should recognized as component of other comprehensive income.
Overview: Classifying a company's costs allows for an in-depth analysis of the impact that changes in output have on revenues, costs, and net income or net loss. A cost-volume-profit analysis will be completed in order to determine the breakeven p..
Determine the major differences between U.S. GAAP and IFRS disclosure reporting requirements related to each separately reportable operating segment. Next, give your opinion as to whether either U.S. GAAP or IFRS disclosures provide financial stateme..
A project that will generate cash flows of 6,000, 4,000, and 3,000 during its three year useful life and a salvage value of $2,000. What is the NPV for project
How to Prepare any necessary adjusting entries at December 31. The company has been sued by an employee for discrimination for $ 5,000,000 in damages.
If Sid elects Sec. 179 and does not take additional first-year depreciation, what is the maximum cost recovery deduction for these purchases for 2018
cody is planning a healthy fast food menu for a group of children for pet day at the elementary school. as a nutrition
If a company uses the periodic inventory system, what is the impact on the current ratio of including goods in transit f.o.b. shipping point in the Purchases account and not in the Inventory account?
Andrews corporation earned a profit of $27 million last year. Andres' profit would be used to determine which category of the cash flow statement?
kansas enterprises purchased equipment for 60000 on january 1 2012. the equipment is expected to have a five-year life
if a department manager is provided a static budget and then provided a budget which is flexed monthly based on hisher
badger recorded 500000 of net sales for the year which 2 is estimated to be uncollectable. identify and analyze the
Describe the major parts of the income statements and balance sheet of a merchandising concern. Compute account under the depreciation methods
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