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A company purchased a machine on January 1, 2008 for $100,000. The company believes the machine will not have any net salvage value at the end of its 10-year useful life. The machine is depreciated using the straight-line depreciation method. At December 31, 2009, the machine is deemed to have a fair value of $74,000. At December 31, 2011, the fair value of the machine is $70,000.
A. What is the recorded impairment and net value of this machine on December 31, 2009 and 2011 using IFRS? Show all workings related to impairment and reversal of impairment and creation of revaluation surplus using the amortization elimination method (as done in class)
B. What is the recorded net value of this machine on December 31, 2009 and 2011 using US GAAP?
Assume that there is no maturity risk premium. An 8-year corporate bond has a yield of 8.3 percent, which includes a liquidity premium of 0.75 percent. What is its default risk premium?
A detailed analysis and evaluation of company'ssolvency , liquidity and profitability position. Develop common-sized income statements for most recent two years, and comment on items which you deem important.
Virginia, who was experiencing financial difficulties, was able to adjust her debts as follows. Determine the tax consequences to Virginia.
Assuming a direct-mapped cache with 16 one-word blocks that is initially empty, label each reference in the list as a hit or a miss and show the final contents of the cache.
Parsing Electronics is interested in expanding its operations with a new manufacturing facility in Slovakia. The company prepares a capital investment analysis on the validity of the project and finds that the project is viable. The company expect..
Hazel purchased a new business asset (five-year asset) on September 30, 2012, at a cost of $100,000. On October 4, 2012, Hazel placed the asset in service. This was the only asset Hazel placed in service in 2012. The only election with respect to ..
In November 2006 after having incorporated Cookie Creations Inc., Natalie begins operations. She has decided to not pursue the offer to supply cookies to Biscuits. Instead she will focus on offering cooking classes. The following events occur. Pre..
A machine which cost $300,000 is acquired on October 1, 2012. Its estimated salvage value is $30,000, and its expected life is eight years.
Identify the components of internal control to which each policy or procedure relates. For each item, identify one other policy or procedure for that internal control component that is not on the preceding list.
Dividends on common stock were $2.05 per share and dividends on preferred stock were $1.80 per share. The earnings per share of common stock is closest to:
The Nut House sells almonds, cashews, and pistachios. Pistachios outsell cashews by a margin of 2 to 1 cans. Almonds were half the sales of cashews in cans.
Sweet Dreams manufactures candy. Its records revealed the following.
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