What is the definition of “holding gain or loss”?

Q: Which of the following elements represents a residual claim? A . Asset.

A: residual claim :

Q: Which of the following elements represents an economic resource? B . Liability.

A: The variables being used to manufacture products or provide services are economic assets. That is to…

Q: What are the fundamental differnces between lessor and lessee?

A: Lessor is the person who has the ownership of the leased asset and grants on lease his asset for a…

Q: What is Insolvencey?

A: Liability: It is the legal financial debt owed by a company to outside entities that arises over the…

Q: WHAT IS LEGAL LIFE OF THE ASSET?

A: SOLUTION- LEGAL LIFE OR USEFUL LIFE OF ASSET- AN ASSET LEGAL LIFE IS THE PERIOD OF TIME (OR TOTAL…

Q: What is the quantitative disclosure of lessee?

A: Lease Agreement:   It is a contract between the owner of the asset (lessor) and the person who uses…

Q: Discuss the difference between an unrealized holding gain and a realized gain.

A: The gain is the excess of revenue earned over the expenses incurred.

Q: Are perishable and homogeneous properties alike? How the possibilities of usury should be observed…

A: Introduction:- Making unethical or immoral monetary loans that unfairly advantage the lender is…

Q: How much gain or loss will Bill recognize on the distribution? What is Bill's basis in the inventory…

A: The calculation of gain or loss on distribution and basis in inventory and capital asset is shown…

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: What amount of gain should be reported as a result of the modification of terms under ifrs?

A: As per the restructuring of terms, 1. Loan reduced by 20% i.e., P3,000,000 * 20% = P 600,000 2. Loan…

Q: What does the term insolvent mean?

A: When a person's liabilities exceed the assets owned by him and he is unable to pay the debts which…

Q: why does fair value seeking for an acquisition?

A: Reasonable worth is a term with a few implications in the monetary world. In contributing, it…

Q: What is a contra-asset? Give an example of one.

A:

Q: What are the quantitative disclosures that must be done by lessor?

A:

Q: What is the cost of right of use asset? 2. What is the gain on right transferred to the…

A: Cost of right of use asset 1468000 Gain on right transferred to buyer-lessor 533000

Q: What is securitization?

A: Introduction: Finance reflects a broad variety of spaces where decisions can be taken relative to…

Q: Explain the method of direct capitalization method?

A: The three approaches to value a business or an investment are the Income based,  Market based and…

Q: Explain the accounting for gain and loss ­contingencies.

A: Contingencies:   Contingency is a situation where the outcome becomes uncertain and is resolved in…

Q: Are Inventories depreciable property? Why?

A: Depreciable property means an asset which is eligible to book depreciation for accounting and tax…

Q: What is the difference between a current asset and a fixed asset?

A: Financial Accounting:   It refers to the process of recording the financial transactions of the…

Q: Define capital gain (loss)

A: Whenever an asset is sold, the seller incurs either a profit or a loss. The asset may be a real…

Q: Which are the Limitations on Property Rights?

A: Property rights are the rights given to the owner as per law to hold or own a property. A property…

Q: Is the nature of the gainor loss considered ordinary or long-term?

A: Ordinary gain or loss means any income which doesn't result as Capital gain or loss. Capital Gain or…

Q: what is qualifying assets?

A: Manufacturing plants, power generation facilities and inventories requiring time to get into…

Q: Why does the so-called distressed property situation exist?

A: Distressed property refers to those which have value less than the market value. This situation…

Q: What are the goals of asset & liability management (ALM)?

A: Assets are the resources owned or control by an entity to produce economic value in the coming…

Q: What are the three types of valuation techniques can be used to measure fair value?

A: Fair value: Fair value refers to the amount receivable from sale of an asset, or payable on…

Q: What is the total loss on realization of noncash assets?

A: Noncash assets are assets that would not be easily converted into cash by the company.

Q: What is the cost of right of use of asset?

A: Given in the question: Sales Price 20,000,000 Fair Value 18,000,000 Carrying Amount…

Q: Explain Depreciable Property?

A: Accordance with the IRS (internal revenue service) rule, any asset which is eligible for the…

Q: t is Asset-Accumulation

A: While the asset accumulation method maintains the familiar balance sheet structure, the business…

Q: According to our authors, what is an unrealized gain and unrealized loss?

A: In a general view gains and losses are the outcomes of investing which are inevitable. A gain or…

Q: What is lessee?

A: Lessee: It is term used for any person who has rented any land-property from someone else. That is…

Q: What is the definition of fair value?

A: Investments: