8. Describe two major methods to account for byproducts.

Q: what are the Processes and/or technologies which are or could be incorporated in the expenditure and…

A: Both Revenue and Expenditure cycles are the key components in controlling the cash flows of an…

Q: What are the 4 main areas of asset specificity?

A: Four areas of assets specificity are as follows: Site specificity Physical asset specificity Human…

Q: Discuss the key aspects of the 'cost model' and 'revaluation model' for non-current assets, and…

A: solution cost model                 The model where the non current assets are reported on the…

Q: ORPORATED

A: Working Cash =112-45+35-70+13 Inventory=148+45 Equipment =305+150 Notes Payable (short term)=4+13…

Q: Give an example of ADRs for some assets?

A: American depositary receipts (ADRs): American negotiable securities that signify ownership of shares…

Q: WHAT IS TECHNICAL OBSOLECENSE OF ASSET

A: The term obsolete refers to the fact that a commodity is no longer in use. Obsolescence refers to…

Q: a. Determine the activity rates for each of the three nonmanufacturing activity pools.

A: Hey there since you have posted multiple questions, we can answer only first question for you,…

Q: Explain the term byproduct.

A: A byproduct is a product that is also termed as the incidental product is generated during the…

Q: Define the term nonmonetary assets.

A: Assets: These are the resources owned and controlled by business and used to produce benefits for…

Q: Define Depletion.

A:

Q: What is meant by depreciable base? How is it determined?

A: Depreciable base: The word depreciable base is used to depict the value that is divided by the…

Q: 1. Define and briefly discuss a loss contingency.

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: DEFINE AND INDICATE TYPES OF DUMPING.

A: Dumping: Dumping refers to the reduced price of the products at which price the exporters exports…

Q: 3. Distinguish between a joint product and a byproduct.

A: The production in the business may lead to product of joint products which are main products and…

Q: Define the term Loss Contingencies.

A: A loss contingency is incurred by the business based on the result of a future event, such as…

Q: Define Loss contingency.

A: A loss contingency gives the reader of the financial statements early warning of an impending…

Q: Explain the accounting for loss carrybacks and loss carryforwards.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: What is meant by the term activity analysis? Give three criteria for determining whether an activity…

A: Activity analysis: It is the complete classification and description of the activities performed in…

Q: What are the two main characteristics of intangibleassets?

A:

Q: Explain the changes in depletion method.

A: Depletion: It refers to the process of proportionately distributing the cost of the extracting…

Q: Define asset impairments.

A: Property, Plant, and Equipment:   Property, Plant, and Equipment refers to the fixed assets, having…

Q: What are the three major OE/S processes and what are the subsidary processes of  each major process?

A:

Q: WHAT IS FUNCTIONAL OBSOLECENSE OF ASSETS?

A: Functional obsolescence of assets is discussed hereunder : The term ' Obsolescence' refers to…

Q: Describe two major methods to account for byproducts.

A: By Products: By products are the products which are produced unintentionally along with the main…

Q: Define revenue-producing assets.

A: Current assets: The assets which could be converted into cash within one year like accounts…

Q: Explain the accounting for loss carrybacks.

A: Loss carryback is an accounting situation where the net operating loss of current year can be set…

Q: The depletion expense is

A: Depletion: It refers to the process of proportionately distributing the cost of the extracting…

Q: Define a loss contingency. Provide three examples

A: Loss Contingency:   It is a form of contingency where an existing situation or circumstance where…

Q: on remeasurement nvestment is

A: Given as, To find the gain on the investment as,

Q: how to calculate deprieation

A: When fixed asset is purchased, it is recorded in books of accounts at it original or acquisition /…

Q: Name the major subsystems of the expenditure cycle.

A: A transaction process system helps a business to process all the transactions are the required…

Q: What are three tasks of the fixed asset system?

A:

Q: What are the four components of information required in order to calculate depreciation?

A: Depreciation is a charge on fixed assets to account for the normal wear and tear due to usage over…

Q: Describe the methods used for computing depletion.

A: Depletion is mainly used for natural assets/resources like pool & gas, minerals etc. Depletion…

Q: Dfference between Deprecetion , amortization And fluctution?

A: The resources owned by the business which are required to be sold or to be used for operating the…

Q: Which categories are non value added activities?

A: Non value added activities are those activities that does not actually add value to the product or…

Q: What is the basic purpose of inventories? In what five areas do they provide a buffer?

A: The inventory indicates the current assets of the corporation which is directly related to the…

Q: Explain the accounting for loss carryforwards.

A: The Accounting For Loss Carryforwards will be explained:

Q: Calculate F's basis for each asset received in the distribution.

A:

Q: The following has 1. An amount of irrecoverable.

A: Assets are resources that are controlled which results from prior transactions that are expected to…

Q: ment is depre measured at

A: Given: A piece of equipment for a cost =$100,000 fair value=$82,000 Equipment assessed=$81,750

Q: Explain with relevant examples  1. Primary Apportionment

A: Primary Apportionment is a concept related to the allocation and apportionment of overhead costs to…

Q: Define the following:a. Asset

A: Definition of Assets is given below,