Matthew Kvilvang FINE 418 Module 6 Assignment

question 20 choose the correct answer from the choices

Can you please help me answer these questions

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Answer?

please detail explantuion

Q) A 1) The Oman Museum is a nonprofit organization or government organization? Why? Explain.      2) Explain the governmental Units , business type and fiduciary type with example?

Which of the following assets held by an enterprise would not qualify as investment in property as defined by PAS 40, Investment property?     Land for sale in the ordinary course of business Land held for capital appreciation Land held for undetermined future use Building held to earn rentals     Which of the following is included in the definition by PAS 20 of government grants?I. Transfer of resources to an entity in return for past or future compliance with certain conditions.II. Transactions with the government that cannot be distinguished from the normal trading transactions of the entity.     II only I only Both I and II Neither I and II   Which of the following would result in a Dr to AR?     Sale of goods under " special order" "Special order is yet to be completed" Sale of goods classified as Trade Sale of goods under "Consignment" Sale with a right of repurchase

Under which basis should companies record donated assets in their books?

Answer the Question below Under which basis should companies record donated assets in their books? a) Nominal value of $1 b) Donor's book value c) Fair market value at receipt d) Replacement cost value.

A government grant related to should be

Q A Computer Mfg. Equipment Office building Land P&G Corporation, a C corporation, sold the following business use assets in 2022. Compute the amount and character of any gain or loss P&G Corporation must report from the disposition of each asset (e.g., §1231 gain or loss, ordinary gain or loss, §1245 recapture, etc.). Assume that P&G Corporation has no Section 1231 losses in prior years. Please show your work and explain your calculations. Asset N 2 30% W S 3 X 3 do E Acquired Sold Cost 10/7/2021 8/16/2022 $50,000 1/13/2020 5/16/2022 $208,000 7/23/2014 2/12/2022 $320,000 7/23/2014 2/12/2022 $100,000 D 298 $ 4 C R F % 5 T V 6 G fo Y B & 7 No Spacing H U * Cost Adjusted Recovery Basis 8 Heading 1 N J Heading 2 I 9 $45,000 $10,000 $40,000 $98,852 $109,148 $180,000 $60,000 $260,000 $400,000 $0 $100,000 $80,000 M 0 O V مه Subtitle ob Sales Price P V Subtle Emph command a OF

Multiple choice question What is the rule regarding depreciation of federal capital assets classified as general property plant and equipment (General PP&E)? Select one:   a. Federal agencies have the option of depreciating or not depreciating General PP&E. b. General PP&E is capitalized and depreciated only for federal business-type activities. c. All General PP&E is capitalized and depreciated. d. All General PP&E is expensed at the time of acquisition.

question 6 choose the correct answer from the choices

Which statement is false regarding the government-wide Statement of Net Position? O Noncurrent liabilities are presented separately from current liabilities. Assets are reported excluding capital assets. O Capital assets are reported net of depreciation. O Investments are reported at fair value rather than historical cost. Discretely presented component units are grouped and shown on the right of the total. 80 F3 a F4 9 MacBook Air ત્ર F5 F6

q24 Which of the following is NOT a step in impairment testing? Select one: a. Calculate the asset’s carrying amount in the books of the entity b. Sell the asset after if the fair value is greater than the recoverable amount c. Calculate the recoverable amount of the asset d. Assess whether there are circumstances that may indicate that the asset should be impaired.

390. CHAPTER 4—CORPORATIONS: ORGANIZATION AND CAPITAL STRUCTURE Que90 Issues relating to basis arise when a taxpayer is involved in a § 351 transaction. Describe the underlying rules, and the purpose they serve. 391. CHAPTER 4—CORPORATIONS: ORGANIZATION AND CAPITAL STRUCTURE Que91 How is the transfer of liabilities in a property transaction generally treated for tax purposes? How is a transfer of liabilities generally treated in a § 351 transaction? What exceptions could arise to this usual treatment in a § 351 setting? 392. CHAPTER 4—CORPORATIONS: ORGANIZATION AND CAPITAL STRUCTURE Que92 When forming a corporation, a transferor-shareholder may choose to receive some corporate debt along with stock. Identify some of the issues the transferor must consider when deciding whether debt should be a part of the transaction. 393. CHAPTER 4—CORPORATIONS: ORGANIZATION AND CAPITAL STRUCTURE Que93…