Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Charity Berhad is a company which specializes in developing materials and foodproduction activities for economic benefits. The director of Charity Berhad is notsure of the recognition criteria and the accounting treatments regarding the following independent costs incured:
(i) The company entered into a contract to acquire the franchise for HealthyYogurt Ice Cream. Charity Berhad has to pay RM3 million for the franchiseand recipe. It can manufacture and sell the yoghurt ice cream for five years.
(ii) The company incunred a cost of RM220,000 for a project involving theinvestigation of new adhesive recently developed in the aerospace industry.If this proves effective, then Charity Berhad may well generate significantincome because it will be used in place of existing adhesives.
(iii) Charity Berhad rented the premises, and the equipment and furniture werebought from the franchiser for RM2.5 million. The company also incurredRM400,000 in advertising and recruiting staff.
Required:
Question 1: As the company's financial accountant, determine whether MFRS116 Propery, Plant & Equipment'or MFRS 138 Intangible Asset are applicable for each of the incured costs above and explain the accounting treatments accordingly.
Management the effect of impairment testing on these financial statements. In doing this you need to indicate to management in an appendix to the report
China Pacific manufactures a variety of natural fabrics for the clothing industry in a neighborhood of Shanghai. The following data pertain to the month of October 20X5. Calculate EU, cost per EU, cost of units transferred out, and cost of WIP ending..
Adams, Brown, and Carson are considering the admission of Daniels to their partnership. The current partners share profits in the ratio of 4:2:1 respectively, and they have capital balances totaling $86,000. Daniels is to obtain a 20% interest in net..
The owners' equity accounts for Freya International are shown here.- how many shares are outstanding now?- What is the new par value per share? -
Preparing a general journal of adjusting journal entries.? Preparing and completing a ten-column worksheet using Excel. From the trial balance and other information given, please prepare the following as of December 31, 2016. Adjusting entry general ..
Evaluate at least (2) factors that make financial statement analysis essential to management, investors, and creditors. Provide a rationale for your response
Jackson Consulting, Inc. had the following accounts and balances at December 31: Account Debit Credit Cash $20,000 Accounts Receivable 6,000 Prepaid Insurance 1,500 Supplies 5,000 Accounts Payable $500 Common Stock 16,200 Dividends 1,000 Service Reve..
Pat generated self-employment income in 2016 of $76,000. The self-employment tax is: The taxpayer’s marginal tax bracket is 25%. Which would the taxpayer prefer?
What amount will be assigned to the noncontrolling interest in the consolidated balance sheet? (Round your answer to nearest whole dollar amount.)
How much more or less cash did Murphy USA collect from customers than it recognized in revenue in 2016? Explain with an example with an example.
With respect to a product cost object, where the plant makes only one product. Electricity used to run assembly line ? Depreciation of the factory building Direct or Indirect Variable or fixed?
multiple questions on cash flows.1.nbspa buyer receives favorable financing from the seller as follows actual mortgage
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd