How is IFRSs relevant to each of the following stakeholders: i. Investors ii. Multinational companies iii. Governments

Q: The following information is related to ABC Corporation, which is undergoing liquidation: Bonds paya...

A:   Total Assets Assets P480,000 Less: Prepaid Assets P7,600 Less: Goodwill P22,000 Add: Asset...

Q: Hilarious Company provided the following data pertaining to machinery on the date of revaluation: C...

A: 1) Revaluation increase = 7,200,000 - (4,500,000 - 900,000)     = 3,600,000 2) Carrying amount = 7,2...

Q: Lady G, has a beauty shop located in SM Cebu.  For the year, 2021, Lady’s beauty shop collected P2,5...

A: Accrual basis: Under accrual basis accounting, revenue and expenses are recognized when they are inc...

Q: Mr. Edgar Esparaguera is a professional accountant. He ventured in a milling business to serve the n...

A: Journal entries for all the transactions.

Q: Your neighbour is investigating the operation of a coffee shop. Her options are:- 1. Purchase of a ‘...

A: As per the given question, three options have been provided : 1. Purchase of franchise 'Coffee Break...

Q: Which of the following is least likely to be appropriate as the basis for determining the preliminar...

A: Assets Assets are the resources of the business by using which the business is able to generate reve...

Q: ABC Corporation is a financially distressed corporation with the following financial information on ...

A: Estimated Recovery: If a company goes through a liquidation or wind down, the estimated recovery val...

Q: How much is the proceeds from the sale of non-cash assets in January 2022?

A: The determination of proceeds from the sale of non-cash assets is shown hereunder : Liabilities to o...

Q: Explain the elements of a good document of fraud..

A: Since documentary evidence makes up a large quantity of evidence in fraud cases, auditors must compr...

Q: Total prime costs for the year are: Total conversion costs for the year are:

A: Total prime costs 432000 Total conversion costs 252000

Q: On January 1, 2022, AA Company received cash of P1,000,000 and a 4-year, oninterest bearing note to ...

A: Solution Given Life of note 4 years Amount to be collected every year 600000 Effecti...

Q: Break-even and service fees for the construction company? some of the departments / items / areas yo...

A: Construction companies are created and operated with the view to construct, repair and maintenance o...

Q: The following data were taken from the records of Clarkson Company for the fiscal year ended June 30...

A: The total cost of goods manufactured is the overall cost of converting work-in-process inventory int...

Q: The following is the Balance Sheet of Tahani and Alaa sharing profit and losses in the ratio of 2 : ...

A: Let's understand the basics  Partnership is an agreement between two or more people to oversee busin...

Q: Required information [The following information applies to the questions displayed below.] Clyde is ...

A: Answer for above are as follows

Q: PLEASE ANSWER THIS QUESTION ASAP. THANK YOU SO MUCH. In connection with your audit of the financial...

A: Solution Audit is ana official examination of the present state of something , especially of a compa...

Q: Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory ...

A:

Q: The director of a nonprofit ballet company in a medium-sized city in a certain country is planning i...

A: The sum of money given by a individual, for any charitable purpose is called a donation. The total s...

Q: Tractor Co. signed a contract to sell a tractor to Green Inc. for $55,000. Green paid for the tracto...

A: Here given the details which can be recognized the sales revenue in the different situation which ar...

Q: Lady G, has a beauty shop located in SM Cebu.  For the year, 2021, Lady’s beauty shop collected P2,5...

A: Cash basis accounting: In cash basis accounting, revenue are recognized when payment is received and...

Q: Require (a): Your business issued a 14%, $300,000, one-year, note payable on April 1, 20x1. Both the...

A: Solution Adjusting entry is a entry in a company's general ledger that occurs at the end of an accou...

Q: FINANCIAL STATEMENTS AND TAXES Part I of this case, presented in Chapter 3, discussed the situation ...

A: As per rule, allowed to answer first three subparts and post the remaining in the next submission.

Q: Management accounting is required to follow generally accepted accounting principles.

A: Management Accounting - It is the process regarding preparation of reports which helps the managers ...

Q: In 2021, the Westgate Construction Company entered into a contract to construct a road for Santa Cla...

A: Take your gross sales revenue for the accounting period and subtract discounts, allowances and retur...

Q: ABC Construction Company began work on a contract in 2022 and completed the contract in 2023. The to...

A: In construction project revenue shall be recognized on the basis of precentage of work compelete.

Q: Instructions a. Prepare the following for Machine A. 1. The journal entry to record its purchase on ...

A: Journal Entry for record for purchase and  for depreciation expenses , and calculation of depreciati...

Q: The Fly Company provides advertising services for clients across the nation. The Fly Company is pres...

A: The question is based on the concept of Cost Accounting.

Q: On accepting the position of Chief Executive Officer and Chairman of Cameron Machinery, John Jacob c...

A: Weekly payroll = $10 million Annual payroll = $10 million x 52 weeks = $520 million Cost of short-te...

Q: The industrial company KLM SA manufactures fitness equipment for playgrounds upon orders from its cu...

A: Journal Entry - It is record of every business transaction in day to day life over a particular peri...

Q: In preparing a statement of cash flow, sale of treasury shares at an amount greater than cost would ...

A: Statement of cash flows: It is a financial statement that shows the increase or decrease in the cash...

Q: Problem 3. The books of Marikit’s Service, Inc. disclosed a cash balance of P687,570 on December 31,...

A: Bank Reconciliation Statement   Cash Book Balance P687,570 Add: a. Check number 748 for P30,000...

Q: The following units of an inventory item were available for sale during the year: Unit Unit Cost Beg...

A: The average cost per unit is computed as total cost of goods available for sale divided by number of...

Q: AA and BB have been partners for a decade. As of January 1, 2022, the capital balances of AA and BB ...

A: Partnership is one of the form of business organisation, under which two or more than two persons in...

Q: The following accounts are taken from a balance sheet. 1. Cash 2. Retained earnings 3. Equipment 4. ...

A: Balance sheet forms a part of financial statements of the entity and is includes the details regardi...

Q: Benedict Company incurred the following costs. 1.    Sales tax on factory machinery purchased    $5...

A: Note: For determining the acquisition costs of land, Please Re-submit the question with complete fin...

Q: need this in words rewrite it

A: As per the requirement    Direct Material used Direct Labor Manufacturing overhead Total Manufact...

Q: You are not ready to open a brick-and-mortar bakery but you think you can handle catering. You have ...

A:

Q: At December 31, 2021, Suo’s Boutique had 2,000 gift certificates outstanding, which had been sold to...

A: The company should not record revenue when a gift card is purchased; instead, the purchase of the gi...

Q: Problem 1. The following pertains to the financial records of SinoTrump Company: Sales Purchases P16...

A: Lets understand the basics. Management is require to track the cash inflow and cash outflow so that ...

Q: Information relating to the operating segments of Fast Company for the year 2021, is presented below...

A: This question deals with the IFRS 8 "Operating segment" As per IFRS 8, particular classes of entity ...

Q: On February 1, 2022, AA and BB formed a partnership and agreed to share profits in the ratio of 46 ...

A: Partnership is one of the form of business organisation, under which two or more than two partners i...

Q: On April 2, Granger Sales decides to establish a $280 petty cash fund to relieve the burden on Accou...

A: Lets understand the basics. Petty cash is created from the cashbook to pay a small expense over a pe...

Q: Golden Gate Construction Associates, a real estate developer and building contractor in San Francisc...

A: EVA as a residual income measure of financial performance is simply the operating profit  after tax ...

Q: Hello my dear tutor, Please help me answer this one. Show your solutions or answers. Type only your ...

A:                            SFP is also called as Balance Sheet.  It is a statement showing financial...

Q: June 10th Wrote off the balance of $600 from Manny Miller’s account as uncollectible   September ...

A:           Allowance for uncollectable account Solution 1- Date Particular Amount DR Amount CR ...

Q: On February 20, 2022, ABC Construction Company entered into a fixed-price contract to construct a co...

A: Fixed Price Contract is the contract where two parties agree for a fixed price for the agreement. To...

Q: Knight Ltd makes four products, A1, B2, C3 and D4, and has produced the following: C3 1,800 A1 82 D4...

A: A) If the company produces units demanded    A1 B2 C3 D4 Total Labour hours required         ...

Q: With respect to the CVP analysis, which one of the following formulas is correct? a) px=vx+fc+Profit...

A: Following are the components of the equation: Profit= Sales- variable cost Fixed cost is the constan...

Q: he business type of this company is food services industry. Give me an analyzation or interpretatio...

A: Finished goods turnover is obtained by dividing cost of goods sold by the average amount of finished...

Q: 15. After starting a new fiscal period on June 1st, the trial balance will show zero balances for In...

A: Lets understand the basics. There are various stages of preparation and finalization of accounts whi...