Correct Answer General Accounting:-What determines the valuation basis for assets acquired indebt restructuring?Future market valueii) Carrying amount of debtiii) Fair value of assets receivediv) Original asset cost

Concept of Fair ValueFair value refers to the price that would be received to sell an asset or paid…

Answered: General Accounting:- What determines…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 10MC: The amortization process is like what other process? A. depreciation B. valuation C. recognizing...

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Financial Asset at Fair Value under OCI would have its gain or loss reported at what Financial Statement? Income Statement Cash Flow Changes in Owners Equity Balance Sheet
Valuing assets at the amount of cash or equivalents paid or the fair value of the consideration given to acquire them at the time of acquisition most closely describes which measurement of fi nancial statement elements? A . Current cost
Which of the following is (are) acceptable valuation(s) for reporting of assets on the balance sheet? 1. inventories at lower of cost or net realizable value. 2. accounts receivable at net realizable value. 3. plant and equipment at cost 4. investments at acquisition cost Select one: 1 and 4 1 and 3 1 and 2 2 and 4
The current asset financing policy that calls for matching the maturities of assets with the maturities of liabilities is known as the a. permanent current ratio approach b. temporary net working capital approach C. conservative approach d. self-liquidating approach e. aggressive approach
Question Accounting
Valuing assets at the amount of cash or equivalents paid or the fair value of the consideration given to acquire them at the time of acquisition most closely describes which measurement of fi nancial statement elements? B . Historical cost.
General Accounting
Which of the following is measured at fair value with fair value changes recognized in profit or loss? a. held to maturity investments b. financial assets designated at FVPL c. FVOCI d. all of these
Which of the following statements is TRUE? a. The acquirer shall measure the identifiable assets acquired and the liabilities assumed at their acquisition-date fair value. b. Transaction costs directly related to the issue of debt instruments are deducted from the fair value of the debt on initial recognition and are amortized over the life of the debt as part of the effective interest rate. Directly attributable transaction costs incurred issuing equity instruments are deducted from revenue. c. In net asset acquisition, gain on bargain purchase is recognized in the Profit or Loss of the acquirer (after reassessment) if the consideration transferred is more than the fair value of net assets acquired. d. According to IFRS #3: Revised, cost directly attributable in effecting the business combination (e.g., finders’ fee and other direct cost) must be charged to share premium.
What effect does the recognition of depreciation expense have on total assets? On total equity?
Accounting Short Question
Calculate the EBIT which should be used for the EV / EBIT multiple given the information below: Net revenues Cost of sales Gross Profit Selling, general and administrative expenses Amortization expense Restructuring costs Acquisition-related costs Asset impairment charges Gain on sales of assets Operating income Interest expense, net Loss on early extinguishment of debt Other expense, net Income (loss) before taxes (Benefit) provision for income taxes Net income (loss) Select one: 1,394,8 1,444.4 1,474.3 S 1,419.6 5,248.1 1,746.0 3,502.1 2,027.8 During fiscal 2050, the company sold assets relating to the Cutey brand for a total disposal price of $29.2. The Company allocated $4.2 of goodwill to the brand as part of the sale. The Company recorded a gain of $24.8 which has been reflected in Gain on sales of assets in the Consolidated Statement of Operations for the fiscal year ended June 30, 2050. 79.5 86.9 174.0 5.5 (24.8) 1,153.2 81.9 3.1 30.4 1,037.8 (40.4) 1,078.2

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General Accounting:- What determines the valuation basis for assets acquired in debt restructuring? Future market value ii) Carrying amount of debt iii) Fair value of assets received iv) Original asset cost