Explain IAS39
Q: Vignette #3 Whistler, Inc., manufactures a specialized snowboard made for the advanced snowboarder.…
A: The variable costing method considers direct product costs to measure cost, while the absorption…
Q: For Waterway Industries, sales revenue is $600000, variable expenses are $432000, and fixed expenses…
A: The contribution margin ratio of a corporation can be calculated by dividing sales by revenue less…
Q: Georgia Huckabee has an adjusted gross income of $100,234 and itemized deductions that total $12,055…
A: Taxable income is the amount of income which is chargeable to tax or the amount which is left after…
Q: The prepaid insurance account had a beginning balance of $3,420 and was debited for $6,460 of…
A: The adjustment entries are required at the year end to adjust the deferral and accruals for the…
Q: Does net debt ratio provide useful information to the investor? Are the NonGAAP measures, ROCE and…
A: Investors are the resources who bring their capital to the company with an intention to earn the…
Q: Journalize the following merchandise transactions. Refer to the chart of accounts for the exact…
A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…
Q: Question 1 Andromeda Manufacturing Company has the following data in the ledger for the year ended…
A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…
Q: Comparative financial statements for Weller Corporation, a merchandising company, for the year…
A: Financial ratios are the type of calculation that shows the relationship between the numerical…
Q: What is internal control? b) Identify the components of COSO’s Enterprise Risk Management. NB:…
A: a) Internal control is a process used by organizations to provide reasonable assurance that their…
Q: 45 units are in the ending inventory. Beginning inventory: 35 units at $6.14 June 3: 45 units at…
A: FIFO which is also written as first in first out, is the method under which ending inventory is…
Q: Exercise 14-4A (Algo) Inventory turnover LO 14-2 Selected financial information for Thornton Company…
A: Average Inventory :— It is calculated by dividing sum of beginning balance of inventory and ending…
Q: Required: (1) Prepare a statement of cash flows using the indirect method for the year ended June…
A: The indirect cash flow method calculates cash flow by adjusting net income with differences from…
Q: How much interest will you pay on a loan of $15 500 if you are paying the loan off in 9 months? Your…
A: On the income statement, the expenditure for interest is categorized as a non-operating item. It is…
Q: In July 2021, Cassie purchases equipment for $55,000 to be used in her business. Assuming Cassie has…
A: Cost recovery is the ability of businesses to recover (deduct) the costs of their investments. It…
Q: Assume that Management had determined that its organization’s audit committee is not effective. How…
A: Note:- “Since you have asked multiple questions, we will solve the first question for you. If you…
Q: On January 1, Year 17, Devi Corp. sold to Charlottetown Ltd. equipment it had purchased for $300,000…
A: Inter-company transactions refers to the transactions which take place between two related companies…
Q: eBook Single Plantwide Factory Overhead Rate Kennedy Appliance Inc.'s Machining Department incurred…
A: Solution... Predetermined overhead rate = Estimated overhead/ estimated machine hours
Q: 6. To acquire Gaines Corporation stock, Palmer Co. pays $61,500 in cash. What entry should be made…
A: JOURNAL ENTRIES Journal Entry is the First stage of Accounting Process. Journal Entry is the…
Q: 4.Basic earnings per share for 2018 is (rounded to the nearest penny) a. $2.20. b. $2.42 EPS= 600k -…
A: 1. Basic EPS = Earnings available to equity shareholders ÷ weighted average no.of common shares…
Q: One important aspect of internal control is the segregation of duties, which makes certain types of…
A: Segregation of duties means seperating the record-keeping function from the operational…
Q: Flapjack Corporation had 7,712 actual direct labor hours at an actual rate of $12.30 pe completed…
A: "Since you have asked multiple questions, we will answer first question for you. If you want other…
Q: Data for adjusting journal entries on December 31: Amortization for 2018, $3. Supplies of $2 were…
A: Adjusting journal entries are the entries which are made at the end of the period to adjust all the…
Q: Reporting Stockholders' Equity Using the following accounts and balances, prepare the…
A: ANSWER Here the question is asked to calculate total stockholders equity. Authorized Common stock =…
Q: DeeGee Ltd. acquired a Patent on April 1, 2020 for $650,000. DeeGee can only provide evidence of…
A: Required 1 of 2 As it is evident from the question that Patent will have clearly identifiable cash…
Q: 3. Complete the below table to calculate the balance sheet data in trend percents with 2019 as base…
A:
Q: Allocate the support department costs to the operating units using the reciprocal method.
A: Meaning of cost allocationAllocating the cost of service department into production department…
Q: Define the role of a finance manager and how does it differ from accountant
A: A finance manager is responsible for managing the financial activities of an organization, such as…
Q: A business operated at 100% of capacity during its first month and incurred the following costs:…
A: Absorption Costing Method :— Under this method, total manufacturing cost or production cost is the…
Q: Question 3 Anggur Sdn Bhd produce 3 products, and the material cost per tonne and estimated annual…
A: According to Bartleby Guidelines, we are not allowed to answer more than 3 parts of a question.…
Q: eBook Show Me How Activity-Based Costing for a Service Business Sterling Hotel uses activity-based…
A: Solution... Total activity cost = Activity rate * actual activity consumption
Q: th, who is single (age 28) and has no dependents, had activity for 2021 as foll ry $ 85,000 dends…
A: taxable incomes: 1. salary of $85,000 taxable as per regular income tax bracket. 2. dividends…
Q: On January 1, Boston Enterprises issues bonds that have a $3,400,000 par value, mature in 20 years,…
A: Bonds are borrowing security issued by a company to raise funds from the market by making an…
Q: What is an example of a financial transaction? A firm purchases a fire insurance policy. An…
A: Financial transactions are those which involve money in them. These are the transactions which are…
Q: e following data relate to direct labor costs for the current period of Executive Inc.: Standard…
A: Answer : Direct labor time variance = (Actual hour* Standard rate) - (Standard hour* Standard rate)…
Q: Required information [The following information applies to the questions displayed below.] Tyrell…
A: Interest due It represents the amount required to pay the interest cost of a loan for the payment…
Q: In Hal's business, the "Kd" is...(circle all that apply): (a) Hal's cost of debt; (b) is the…
A: The cost of debt - which is used as Kd - is the interest rate paid by the company on the loans or…
Q: Wonderland Company produces jewelry. The table below shows the data for the month in production of…
A:
Q: Cost of direct materials used in production Direct labor Factory overhead Work in process inventory,…
A: Cost of good manufactured = Beginning WIP+Total manufacturing costs incurred - Ending WIP Cost of…
Q: During Year 1, El Paso Company had the following changes in account balances: • The Accumulated…
A: Financing activities section of the statement of cash flows shows the cash received and cash paid by…
Q: Ann Reynolds has recently been hired as practice manager for Dr. LaRue. In reviewing the financial…
A: 1. A payment plan must be established prior to the start of any medical services. 2. Payment is…
Q: Department S had no work in process at the beginning of the period. It added 13,000 units of direct…
A: Solution.. Conversion costs includes direct labor and the factory overhead costs .
Q: The following data (in thousands) were taken from recent financial statements of Starbucks…
A: Formula for Working Capital = Current Asset (-) Current Liability The formula for Current Ratio =…
Q: Question 1 Duku Sdn Bhd is a single-product entity, and provides the summary data shown below…
A: Contribution Margin :— It is the difference between sales revenue and variable cost. Contribution…
Q: A company has £25,000,000, equity shares at a nominal value of £5.00 each and 50,000 5% preference…
A: ANSWER Here in this case the question is asked to find total amount to be distributed from reserves.…
Q: Required information [The following information applies to the questions displayed below.] Tyrell…
A: Interest due It represents the amount required to pay the interest cost of a loan for the payment…
Q: Montrose Instrumentation produces measurement equipment. One component, used in a variety of the…
A: The purchase budget is prepared to estimate the number of units to be purchased during the period.…
Q: The standard rate of pay is $18 per direct labor hour. If the actual direct labor payroll was $80960…
A: Actual Direct Labour Rate per hour :— It is calculated by dividing actual direct labour costs by…
Q: Which of the following is not a reason for banks to use activity-based costing? Oa. to determine…
A: Introduction:- Activity Based Costing is a costing method that identifies and assigns overhead and…
Q: Bulldog Inc. recently made a $75,000 purchase from a vendor. The vendor will accept payment by check…
A: ACH Payment means Automated Clearing House Network. It is an electronic fund transfer which is made…
Q: Total direct materials (assuming no beginning or ending inventory of material) of materials A and B…
A: The business organization may construct a direct materials purchase budget so as to estimate the…
Explain IAS39
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