Explain How is the impairment model of IFRS 9  different from impairment model of I

Q: re journal entries to record the fo ary 22, purchased, an asset, mer uary 10, paid creditor for part...

A: Journal is prepared for recording the business transactions, all the business transactions are recor...

Q: BluStar Company has two service departments, Administration and Accounting, and two operating depart...

A: The service department costs can be allocated to operating departments using various methods as dire...

Q: Determine the hourly cost of tires for a hydraulic excavator, whose set of tires cost S4,000 with a ...

A: Hourly cost of tires = Depreciation per hour + Average cost of repair per hour where, Average cost o...

Q: On July 15, 2019, Leo purchased and placed in service a new car that cost $61,800. The business use ...

A: MACRS Depreciation In the MACRS depreciation which can be applied in either Half year conversion or ...

Q: A plant asset was purchased on January 1 for $75,000 with an estimated salvage value of $15,000 at t...

A: Depreciation as per straight line method  = (Cost - residual value) /usefullife  

Q: The current file of an auditor's working papers generally would not include * A. Flowchart of the i...

A: The correct answer for the above mentioned question is given in the following steps for your referen...

Q: Little Oil has outstanding 1 million shares with a total market value of $27 million. The firm is ex...

A: In the context of the given question, we should first compute the cost of capital by the method of d...

Q: I. Review the adequacy of the withholding procedures. II. Determine the last remittance of withholdi...

A: Withholding taxes are those deducted from the earnings of employees and subsequently, these taxes de...

Q: Pachel Corporation reports the following information pertaining to its accounts receivable. Days Pas...

A: Uncollectible Accounts expense: An uncollectible accounts expense is reported on the books when a cl...

Q: A

A: The preparation, designing, and documentation of internal controls are that of the management. Once,...

Q: A company håð the fólló JANUARY: 10 UN TEDRU A DV 20 II

A: Specific Identification is a method that helps in finding out the ending cost of inventory. It requi...

Q: Antuan Company set the following standard costs per unit for its product. Direct materials (4.0 poun...

A: Direct material cost variance: The direct material variance is the difference between the standard ...

Q: A machine costing $450,000 with a four-year life and an estimated $30,000 salvage value is installed...

A: Given:  Cost of Machine - $450,000 Estimated salvage value - $30,000 Production Estimate - 1,050,000...

Q: Required: What are the advantages and disadvantages of the scattergram method as compared to the hig...

A: The scattergraph (or dissipate diagram) strategy is a visual method utilized in representing isolati...

Q: company's cost of debt capital?

A: Cost of debt is the amounts of the cost which are required by the company to pay have to pay to the ...

Q: ORANGE Corporation reported the following financial liabilities in its December 31, 2021, statement ...

A: The convertible bond gives the owner/holder of the bond an option to convert the bond into shares af...

Q: Calculate the total cost to D Ski Resort for Greg's paycheck being deposited Wages Plus taxes FICA T...

A: Payroll Taxes: The significance of payroll tax is that it is a duty that is paid by an organization,...

Q: On 1-4-2018 A Ltd and B Ltd were amalgamated into C Ltd based on the following balance sheet. A Ltd ...

A: A balance sheet is a financial statement that reports a company's assets, liabilities, and sharehold...

Q: Journalize the corrections for the following transactions: 1. A cash sale of $1,000,000 has been re...

A:

Q: Lopez Corporation sells a product for $18 per unit, and the standard cost card for the product shows...

A: While making the decision for the special orders, we need to find out the relevant cost for the spec...

Q: , is engaged in a service business. In the current year, Sean incorporates his business by forming F...

A: The answers have been mentioned below.

Q: The following information is available for year 1 for Pepper Pr $6,160,000 Sales revenue (220,000 un...

A: The income statement explains the financial performance of the company for a particular period of ti...

Q: What is the purpose of Target Profit and why is it used in the Retail industry?

A: Targeted profit is the amount of profit that business executives expect to receive at the end of the...

Q: utually e atives as part of a production imp ram. The alternatives are as follows:

A: Net present value refers to the concept that determines the difference between the current value of ...

Q: Pasta acquired 100% of Sauce for $200.     At acquisition date Sauce had equity of $170, comprise...

A: Goodwill refers to the intangible asset that arises generally at the time of purcahse or sale of bus...

Q: Digital cameras and video cameras are two goods that are manufactured by Everlasting Company. Activi...

A: Calculation of activity rates : `Activity (a) Estimated cost (b) Total expected level of activit...

Q: As an auditor, you are tasked to audit the income tax liability of Taxpayer Corp. which of the follo...

A: Permanent differences is difference between the tax expenses and tax payable due to an item that can...

Q: Crane company gathered the following reconciling information in preparing its June bank reconciliati...

A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with...

Q: X invited Y to a partnership interest in his business. Accounts in theledger of X on January 1, 2020...

A: The adjusted capital of X will be equal to the Fair value of Assets less value of liabilities.   The...

Q: Required information [The following information applies to the questions displayed below.] Shadee Co...

A: Budgeted Cost- A budgeted cost is a forecasted future expense that the corporation is expected to br...

Q: LOGIC COMPANY     Comparative Income Statement     For Years Ended December 31, 2017 and 2018       ...

A: Accounts receivable is the amount that has been earned by the company but the payment for the same h...

Q: S1: Because there are usually few transactions in the cycle, control risk and the results of substan...

A: The internal controls within operational activities should be thoroughly verified by the auditor to ...

Q: Which of the following is not a  management accounting report? A.Income statement B.Sales forecast...

A: Management reports are those reports which are prepared for the management decision making, where da...

Q: Any inter-company gain on a downstream sale of fixed assets should be recognized in consolidated net...

A: Downstream sale of fixed assets means that the parent company has sold one or many of their assets t...

Q: In not less than seven sentences, answer the following questions below: 1. As an auditor, what do yo...

A: As per our protocol we provide solution to one question only but as you have asked two questions kin...

Q: Ratio of Cash to Monthly Cash Expenses Financial data for Abrams Company follow:   For Year Ending...

A: Monthly Cash expense= Cash flow from operation/ 12months = $ 79200/12 = $ 6600 per month    

Q: Which of the following is correct?    a. A person with vatable sales or receipts not exceeding the...

A: Value-added tax: The value-added tax refers to an indirect tax or sales tax that lived on the consum...

Q: X invited Y to a partnership interest in his business. Accounts in the ledger of X on January 1, 202...

A: On Admission of a new partner or on formation of a new partnership firm, the Assets to be brought in...

Q: Which of the following is wrong? A. If the seller is a non-VAT registered seller, the government sha...

A: Seller A person who provides goods, products, or services to their customers is known as a seller. I...

Q: 3. Find the maturity value of the placement after the tax is deducted.

A: Time Deposit = P 1000000 Duration = 90 days Rate of Interest = 0.75%

Q: The following are accounts taken from the books of accounts of A Store. then, using the template bel...

A:                                     In double entry system of accounting every debit has correspondi...

Q: X and Y entered into a partnership agreement in which X is to have a 60% interest in capital and pro...

A: Partnership means where two or more person comes together to do some common business activity and ea...

Q: e current year expires in 20 years and lue for 5 years. Additionally, research sts of $300,000 were ...

A: An intangible asset is a non-physical asset that will be consumed over more than one accounting peri...

Q: Cornet Products, Inc., summarizes the following data for the first year of operations   Sales (# of ...

A: The variable costing includes the variable costs in the product cost and absorption costing includes...

Q: A machine costing $450,000 with a four-year life and an estimated $30,000 salvage value is installed...

A: Under Straight line method, same amount of depreciation expense is charged in each year of the life ...

Q: Accounting You have the following information for Sheffield Inc. Sheffield Inc. uses the periodic me...

A: A specific identification method is used to allocate cost to the identifiable inventory. Under this ...

Q: A company with $70,000 in current assets and $50,000 in current liabilities pays a $1,000 current li...

A: Current Ratio - Current Ratio shows the liquidity of the company assets. Assets that are convertible...

Q: 2) Consider the decision to purchase either a 7-year c corporate bond is a 14% annual coupon bond wi...

A: Bonds are priced by discounting future cash flows. Future cash flows include coupons and par value o...

Q: Comparing the entries made by the company and your should be entries, prepare one compound entry to ...

A: Journal entries   1). To record Purchase  Purchase A/c debit  216,000   To bank a                   ...

Q: Given the building layout for Store A, Store B, Store C, and Store D, what portion of the shared $75...

A: Total area of the Building (All stores) = Area of (Store A + Store B + Store C + Store D) = 2,500 ft...