In acquisition accounting, contingent consideration is?? a) Never recognized b) Added to reserves c) Recognized only if payment is probable d) Recognized at fair value
Q: Please give me answer accounting
A: Step 1: Define Gross MarginGross margin is the amount of sales after deducting cost of goods sold…
Q: Do fast and step by step calculation with explanation for this accounting question
A: Step 1: Define Total EquityIn accounting, the balance sheet is divided into three major sections -…
Q: Answer correct
A: Explanation of Sales Revenue:Sales revenue is the total amount generated from selling goods or…
Q: Can you solve these general accounting problem?
A: Explanation: Carrying amount is calculated as = Cost of asset - Accumulated amortization Here, the…
Q: Please give me answer general accounting
A: Step 1: Define InventoryIn a product-driven business enterprise, inventory management is critical…
Q: Please give me answer
A: Step 1: Define Contra AccountsContra accounts deduct the balance in the account that cannot be…
Q: Need answer
A: Explanation of Hyperinflation: Hyperinflation is a period of extremely high and usually accelerating…
Q: Cool
A: To solve the problem of finding the break-even number of units for Cool Electronics, we can use the…
Q: write a two page paper after listening to the Count Me In Podcast, Ep. 235Links to an external site.…
A: Begin by listening to the podcast in its entirety. Pay close attention to the key points made by…
Q: Variable Costing
A: Option a: This option is incorrect because in variable costing, fixed manufacturing costs are…
Q: Hello tutor answer these general accounting question
A: Step 1: Define EPS and P\E RatioEarnings per share is calculated by dividing Net income divided by…
Q: McCormick Corporation reported the following on its comparative income statement: (in millions) 2017…
A: Hello student! Horizontal Analysis shows the changes occurred on a single line item over serveral…
Q: calculate requirement
A: Explanation: In the given question, we are required to calculate gross margin for the month of July.…
Q: Need answer the general accounting question please provide correct calculation
A: Step 1: Define Intangible AssetsIn accounting, intangible assets are long-term assets owned and…
Q: Hello tutor answer these general accounting question
A: Step 1: A) Debt to Equity Ratio is the ratio of total liabilities to total equity. it can be…
Q: Subject: Account. Craig, a used car dealer is thinking about buying a 4 year old car. He customarily…
A: Step 1: Understand the ProblemCraig sells cars for 125% of his purchase cost. This means:…
Q: need General Accounting Question solution
A: Step 1: Define Degree of Operating Leverage:The degree of operating leverage measures the relativity…
Q: Compute the total cost of the building. On these general accounting question
A: Total cost of the building = Materials cost + Construction labor cost + Construction interest…
Q: Please give me answer general accounting
A: Step 1: Define Gross Profit RateThe gross profit refers to the profit calculated by taking the net…
Q: solve it
A: To determine which statement is correct, let us analyze the situation in detail. The problem…
Q: Accurate answer
A: Step 1:Cost of capital asset includes a purchase price, and directly attributable costs that are…
Q: General accounting
A: Step 1: Define Capital gainIt refers to the gain generated with the rise in the worth of the capital…
Q: Answer this
A: Explanation of Non-Controlling Interests (NCI): Non-controlling interests represent the equity in a…
Q: (49) On January 1 of Year 1, a company purchased a machine for $10,000. The machine is expected to…
A: Step 1: Calculate the straight-line depreciation rate:Straight-line depreciation rate = 1 / Useful…
Q: Give me answer please
A: Explanation of Functional Currency: Functional currency is the primary currency in which an entity…
Q: Please give me answer
A: Step 1: Define Activity-based Costing:The activity-based costing (ABC) methodology allows for more…
Q: Need answer the accounting question not use ai
A: Step 1: Define Overhead RateThe conventional method of allocating overhead to product is by…
Q: Please give me answer
A: Salaries Payable represents the amount of salaries owed to employees but not yet paid. It is a…
Q: In group reorganizations, common control transactions are accounted for using which accounting? a)…
A: Explanation of Common Control Transactions: Common control transactions occur when businesses or…
Q: 2) On December 1, 20X1, Rone Imports, a U.S. company, purchased clocks from Switzerland for 15,000…
A: To prepare these journal entries, I followed a systematic approach based on foreign currency…
Q: Traditional Cost System Direct labor Manufacturing overhead. Direct materials B300 % of T500 % of…
A:
Q: SmartTech Electronics sells wireless earbuds at $80 per unit. The variable cost per unit is $35, and…
A: To determine the sales volume needed to achieve a target profit of $60,000 for SmartTech…
Q: Need help with this accounting question not use ai and chatgpt
A: Step 1: Define High-Low MethodThe high-low method is used to decompose the mixed costs incurred by a…
Q: Please assist to give step by step answers or in excel format
A: Part (c) - Inventory Turnover Calculation 1. Inventory Turnover Calculation: Inventory Turnover =…
Q: Explain
A: Explanation of Activity-Based Costing (ABC):Activity-Based Costing (ABC) is a costing methodology…
Q: Need Answer of this Question please provide solution
A: Step 1: Define Net Sales:Net sales is calculated by subtracting sales returns and allowances from…
Q: Account??
A: Step 1:To calculate the total cost recorded on the job cost sheet for Job 915, we need to add up the…
Q: ! Required information Problem 8-5 (Algo) Various inventory costing methods [LO8-1, 8-4] [The…
A: The cost of goods available for sale is the total cost of all goods that were available to be sold…
Q: General Accounting
A: Step 1: Define Price to earnings ratioPrice to earnings ratio or P/E Ratio is a ratio that gives an…
Q: cost account
A: Step 1: Understanding Gross MarginThe gross margin represents the difference between a company's…
Q: Ans
A: Explanation: In the given case, we are required to calculate the working capital of Calin…
Q: niki.2
A: Reports on Accounts Payable Aging in QuickBooks Online (QBO) are categorized as Expenses and Vendors…
Q: Don't use AI
A: Computations Part 1: Calculate Operating Cash Flow (OCF)Operating Cash Flow (OCF) is calculated…
Q: Financial accounting need help
A: Step 1: Define EquityEquity indicates the total value that will be returned to the owners of a…
Q: Financial Accounting
A: Step 1: Define RecapitalizationFirms practice a recapitalization process to modify the structure of…
Q: Tax
A: Explanation of Deferred Tax Assets: Deferred tax assets represent the amount of tax relief that will…
Q: Zolezzi Incorporated is preparing its cash budget for March. The budgeted beginning cash balance is…
A: Beginning Cash Balance: $28,000 Add: Cash Receipts: +$103,000Total Cash Available: $28,000 +…
Q: Assignment : accounting
A: 1. Direct materials cost: * Given: $4,200 2. Direct labor cost: * Labor-hours: 95 hours * Wage…
Q: Solve general accounting question
A: Step 1: Define ROEROE is a profitability ratio that measures how much net income is generated on…
Q: Need experts solution only.
A: Here are detailed explanations for both requirements (4.1 and 4.2) to help you understand the…
Give answer to this financial accounting MCQ
Step by step
Solved in 2 steps
- Right Option?PROBLE other financial assets. associates and joint ventures. delivering cash or another financial asset. However, Entity A's not sufficient to justify offsetting because the rights and d. An intention to settle a financial asset and a financial 2 A contract that evidences a residual interest in the entity's assets after deducting all of its liabilities is classified as 4. Entity A issues an instrument that is re-purchasable by d. Liabilities arising from constructive obligations. Physical assets, such as inventories and PPE. and financial liability remain unaltered. Which of the following is within the scope of PAS 32? b. Contracts for the delivery or receipt of commodity and other non-financial items that can be settled net in cash or Financial assets in the form of investments in subsidiaries, 1. a. b. Co non-financial items that can be settled net in cash or Physical assets, such as inventories and PPE C. ssets after deducting all of its liabilities is classified as a. a financial…Under the corridor approach, a company only amortizes the net accumulated unamortized actuarial gain or loss when the beginning accumulated unamortized balance of the net actuarial gain or loss exceeds the corridor. True False Note: This is a true or false question.
- Statement 1: Measurement period is relevant if Fair Value of Net Assets of acquiree includes the recognition of the contingent asset, contingent liability, and assets/liabilities with provisional amounts. Statement 2: Measurement period is relevant for the remeasurement fo all contingent considerations. A. Both Statetements are Correct B. Both Statements are Incorrect C. Only Statement 1 is Correct D. Only Statement 2 is CorrectWith reference to IAS 37, identify the correct statements from the following: I. A contingent asset should be disclosed by note if an inflow of economic benefits is probable. II. Contingent assets must not be recognised in financial statements unless an inflow of economic benefits is virtually certain to arise. III. No disclosure of a contingent liability is required if the possibility of a transfer of economic benefits arising is remote. a- I, II and III b- I and II only c- II and III only d- I and III onlyObligations for which the amount of the future sacrifice is so uncertain that it cannot be measured reliably are classified as: Select the one correct answer: O provisions. Owarranties. accruals. O contingent liabilities.
- Which accounting principle governs the recording of contingent assets?Explain thoroughly why it is the answer.Which of the following statements concerning the different types of hedging transactions is incorrect? a. In hedging transaction designated as fair value hedge, unrealized holding gain or loss on hedged item will be recognized in profit or loss. b. In hedging transaction designated as cash flow hedge, unrealized holding gain or loss on hedged item will be recognized in other comprehensive income with reclassifications adjustment to profit or loss if realized. c. In hedging transaction which is undesignated, unrealized holding gain or loss on hedging instrument will be recognized in profit or loss. d. In hedging transaction designated as hedge of net investment in foreign operation, unrealized holding gain or loss on hedging instrument which is considered effective portion will be recognized in other comprehensive income with reclassification adjustment to profit or loss if realized.
- AccountingDetailed answer with explanationWhich of the following is a false statement regarding revaluation of PPE?A. Revalued amount is either fair value or depreciated replacement cost.B. If simultaneous revaluation is not possible, revaluation can be done on arolling basis provided revaluation of the class of assets is completed withina short period of time and provided the revaluations are kept up to date.C. The difference between the PPE’s carrying amount and its revalued amount isknown as revaluation surplus and should be presented in the statement ofcomprehensive income, net of applicable tax.D. When an asset's carrying amount is increased as a result of revaluation, theincrease shall always be credited to revaluation surplus regardless of theexistence of previous impairment loss recognized. Which of the following should be included as cost of inventory?A. Depreciation expense of the delivery equipment.B. Depreciation expense of the factory machinery.C. Storage cost of finished goods.D. None from the choices. In…
