Monster Co. submits the following information on account sales: Account Sales: November 30, 2010 Sales by Monster Co. for the account of Copper Co. Date Particulars Amount Nov 1-30 Sales: 4 metal sheets @ 3,000 P12,000 On hand: 6 metal sheets Freight-in Commission (25% of sales) P2,000 3,000 5,000 Remittance enclosed P 7,000 The cost of each unit to the consignor is P1,400. Both the consignee and the consignor take physical inventories at year-end in calculating Cost of Goods Sold.

Q: Define assets and types of assets.

A: Assets: An asset is a resource controlled by the enterprise as a result of past events and from…

Q: What is return on assets(roa)?

A: In general terms, ROA is similar to  Return on Investment.

Q: Define the term nonmonetary assets.

A: Assets: These are the resources owned and controlled by business and used to produce benefits for…

Q: Define the concept of Financial Assets

A: Definition:- Generally Financial assets are not in physical nature assets. Which are liquid assets…

Q: Define Current assets

A: Introduction: Assets are the properties acquired and managed by business as a result of past events…

Q: lassification costs

A: A long-term physical piece of property or equipment that a company owns and utilises in its…

Q: the difference between capital expenditure and revenue expenditure.

A: Expenditure is defined as spending money on something. This can be a cash payment or the exchange of…

Q: Describe the relationship between expense recognition and long-term assets

A: Two kinds of expense recognition are related to long-term assets; These are: Capital & Revenue.

Q: Explain the difference between asset allocation funds and lifecycle funds

A: Asset allocation Funds make investments in different asset classes based on the efficient frontier…

Q: what should be reported as total assets

A: In a Merger, The purchasing entity acquires all the assets and liabilities of the dispersing…

Q: What is the revenue project?

A: Revenue refers to the income generated by the company by performing certain operations or business…

Q: What is the relationship between depreciation and net income?

A: Depreciation is the part of cost of a asset which is charged to income statement yearly as a expense…

Q: Define a financial asset

A: A contractual financial instrument is classified into financial assets and liabilities. They are an…

Q: Explain what is meant by the phrase matched with revenues

A: The term matched with revenues means to recognize expenses in the same period as the related…

Q: What is function of expense method?

A: Organisations can opt for either of the options to prepare and report the income statement. They are…

Q: how to calculate NPV of realized revenue in each history (realizations of states) in stochastic…

A: Your answer:   There is no definitive answer to this question since it will depend on the specifics…

Q: Describe the cost of fixed assets.

A: Fixed Assets - Fixed Assets are assets that are non-current in nature. These assets are purchased…

Q: The cost that is incurred in the process of generating the income will be called as

A: The cost that is incurred in the process of generating the income will be called as expense.

Q: assets equation

A: Assets Equation is: Assets = Liabilities + Capital

Q: Briefly explain the relationship between assets, liabilities, and revenue.

A: Assets is the tangible or Intangible factor in the business, which can be valued in terms of money…

Q: Borrowing cost can be capitalized as cost of the assets when

A: Borrowing costs are costs related to amount borrowed or loans taken. This is the interest expense…

Liquidity Risk Exposure

Answer: c