AS36
Q: The total loss on realization of assets was: a. P360,000 b. P444,000 c. P480,000 ...
A: Partnership means where two or more person comes together to do some common business activity and ea...
Q: Q30)
A: Ans. Net profit is calculated by deducting the expenses from the income of an organisation.
Q: Columbia Constructio development, constru equipment to another ive will be determinec
A:
Q: Required: If Ethan's Farm is 1,375 hectares, how many kilos must he produce per hectare to breakeven...
A: Break even point means where there is no profit no loss. Variable cost means the cost which vary wit...
Q: S1] Forming a partnership requires two or more people agreeing to be partners contributing all their...
A: Partnership is an association of two or more persons to carry on as co-owners a business for profit.
Q: Adam and Boru are partners sharing profit and loss in the ratio of 1:1. Their Stat...
A: "Since you have asked multiple sub part question we will solve the first three sub part question for...
Q: The following transactions were entered into by Keppel Corp. for the current year: Sold goods to Sha...
A: Revenue is the term which is defined as the income that is generated from the normal operations of t...
Q: 36. Normally commercial banks give short-term loans to business firms which is known as __________. ...
A: Introduction: Bank: Banks accepts deposits from public and gives loans to the needed people , busine...
Q: Accounting Question
A: Sales revenue is the term which is defined as the income received through business from selling the ...
Q: With reference to IAS 37, identify the correct statements from the following: I. A contingent a...
A: Contingent Liabilities In simple term contingent liabilities means unexpected loss or expenses incur...
Q: 5) In the revenue account bonus in reduction of premium is shown as :
A: Throughout all situations involving general insurance, the insurance policy will always be acquired ...
Q: What is the loss on realization of noncash assets? present solution.
A: The question is related to the Partnership Accounting. In the given question capital balances are gi...
Q: 2. In Rapid Pac’s statement of cash flows, what were net cash inflows (or outflows) from financing a...
A:
Q: Q7
A: Net Interest Income - It is the difference between revenue generated by the bank from a interest bea...
Q: For the week, Joe’s Manufacturing has a beginning cash balance of 70,000. They spend 99,000 on direc...
A: Total amount spend = direct materials + direct labor + manufacturing overhead + purchased assets + s...
Q: 17) Ahmed has discounted the bill with bank. The date of maturity is 1st July 2021, when can the ban...
A: Drawee is given three extra days following the due date of the bill for making payment. These 3 days...
Q: I need part 4 and 5 solution The Henry company made the following data available from its account...
A: Fixed overheads remain constant and variable overheads change with the level of operations.
Q: The Doral Company manufactures and sells pens. Currently , 5 , 000 , 000 units are sold per year at ...
A: Breakeven point in revenue means the sales made to cover entire fixed costs and earn neither profit ...
Q: Calculate the rebate on bills discounted for each bill for the year end 31.12.2020 Date of bill OMR ...
A: Bill of exchange usually includes the number of days, it is due for, and three days of grace.
Q: 7. ABC Company temporarily has unused production capacity. The idle plant facilities can be used to ...
A: The minimum selling price when there is any excess capacity should able to cover the relevant cost w...
Q: S1: A joint arrangement that is structured without a separate vehicle should be accounted as Joint V...
A: Joint Venture is limited partnership. For a particular venture say construc...
Q: Write the final answer as a percentage with one decimal.
A: Given info 1.Monthly electricity bill $125 2. Cost of the solar systems $18000 3. Useful life 30 yea...
Q: /hich of the following items qualify as an intangible asset under IAS 38?
A: solution : concept as per IAS 38 ,intangible asset are recognized when : identifiable non monetary a...
Q: Identify the condition to be considered while capitalizing development cost: ...
A: SSAP 13 , that is effective from January 1989, provide guidance on the accounting policies to be fol...
Q: Q2
A: Bill of exchange means an instrument where the drawer draw the bill and after accepted by acceptor ,...
Q: What is the loss on realization of noncash assets?
A: The question is related to Partnership Accounting. In the given question we will proceeds with the g...
Q: The production manager of Rordan Corporation has submitted the following quarterly production foreca...
A: The direct labor budget is prepared to estimate the expenses to be incurred for the direct labor .
Q: This topic is about government grants. Please choose the correct letter of answer. Thank you!
A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new ques...
Q: Cn you help me to solve this question please? Placid Lake Corporation acquired 70 percent of the out...
A: Given: Lake Scen icInventory$180,000 $94,000 Land 640,000 240,000 Equipment (net) 440,000 340,000 ...
Q: 3. The sales manager of Alpha Electronics submitted a proposal to increase its production of digital...
A: Cost Analysis: It is comparison of cost for supporting strategic planning, decision making and cos...
Q: Which of the following is not an external indication of impairment? An unexpected decline in the ass...
A: All the choices listed above except assets becoming idle due to discontinued operations are realted ...
Q: Which of the following situation/s do you think are considered to be part of property, plant and equ...
A: As per IAS 16 Property, plant and equipment are tangible items that are held for use in the product...
Q: RYX Company had the following purchases and issues during June 2011: June 1 Beg. Balan...
A: Using FIFO, the older units are sold first and newer units are sold later.
Q: The depreciation charge reduced the company's assets and increased its expenses. This approach was j...
A: No, Black & Decker (B&D) will not account for depreciation on its manufacturing equipment i...
Q: Down Under Products, Ltd., of Australia has budgeted sales of its popular boomerang for the next fou...
A: The management generally used the production budget to find out the required units to be produced. I...
Q: MG automobiles LLC issue warranties at the time of sale to purchasers of its vehicles. Under the ter...
A: As a warranty is a contingent liability, the person who provides it must record a liability and warr...
Q: 40. Muscat Ceramic Company asks Ms. Mona, the accountant of the company to calculate the total liabi...
A: Liabilities are something which a company or an individual owes. Usually Liabilities includes loans,...
Q: On January 1, Celebrity Allures Inc. bought a new popcorn popper for one of their movie theaters. Th...
A: Depreciable cost=Cost-Salvage value=$6,000-$500=$5,500
Q: Question 4
A: The right answer is option a .$134.67
Q: 18-Ali's employer purchased a computer for Ali's use on 6 April 2017 costing £600. On 6 April 2019 t...
A: SOLUTION- SEC 206 (3) ITEPA 2003 OF THIS MANUAL DEALS WITH QUESTION AND AS PER THE SECTION , WHEN AN...
Q: Tasman Products, Ltd., of Australia has a Maintenance Department that services the equipment in the ...
A: Variable cost F Dept.=Machine hour rate×Actual machine hours=$19×11,500=$218,500
Q: BB, WW and FF agree to sell construction tools for a period of one month. BB agrees to construct a s...
A: Profit Sharing Ratio: It is the ratio in which the profits or losses of a business unit are shared ...
Q: Which of the following items qualify as an intangible asset under IAS 38? None of them Advertising a...
A: Intangible assets are non monetary assets, that cannot be seen and touched physically. IAS38 sets...
Q: Question 9
A: Cost of goods manufactured is the total cost of finished goods produced during a certain period. It ...
Q: Cherokee Inc. is a merchandiser that provided the following information: Amount 12,000 $ $ 2$ $ 22,0...
A: SOLUTION- FORMULA- NET INCOME =REVENUE - EXPENSES. DEDUCTION OF EXPENSES FROM REVENUES DERIVES THE N...
Q: . ABP Sakalam Corporation manufactures and assembles electronic motor drives for video cameras. The ...
A: Conversion costs are the costs that are incurred by manufacturing companies when converting raw mate...
Q: Solve the new balance given the Statement of Account. Key in your answer without unit, space or punc...
A: New Balance Method Here to calculate the new balance method in using the credit card statement. The...
Q: Which of the following situation/s do you think are considered to be part of property, plant and equ...
A: As per IAS 16 PPE Property, plant and equipment are tangible items that are held for use in the prod...
Q: Rebate on bills discounted is A liability Actual income Income received in advance An accrued income
A: Statement of financial position or balance sheet is one of a financial statement which helps stakeho...
Q: Hello! I have been tasked with a finanancial analysis for my accounting class, I need to complete th...
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question...
what the means of IAS36
Step by step
Solved in 2 steps