When an item of property, plant and equipment is acquired by issuing equity shares, which of the following is the best basis for establishing the historical cost of the acquired asset?   a. Historical cost of a

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A: A lease is a contractual agreement between two parties, the lessor (owner) and the lessee (user),…

Q: Net purchase price of an asset plus all reasonable and necessary expenditures to get it in place and…

A: Depreciation expense: Depreciation expense is the reduction in a particular asset due to its use or…

Q: If a company buys an intangible asset, it can only utilize the revaluation model to evaluate the…

A: This question describe about the revaluation model to evaluate the asset's value later.

Q: 1.) If a newly acquired asset is ‘held for sale’, the asset or disposal group will be measured at:…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: To calculate the an part of the calcula

A: Amount realized means all forms of compensation received by the seller from the buyer. It can be in…

Q: If a company uses the fair value model to value investment property, changes in the fairvalue of the…

A: Under the fair value model, remeasuring of investment property is made at the end of each reporting…

Q: Which among the sentences below is incorrect? A. An entity shall measure a current asset or…

A: Fair value A fair value means the actual price of an asset received if it is sold in the market. In…

Q: Under IFRS, an entity that acquires an intangible asset may use the revaluation model for subsequent…

A: As per IFRS on Intangible Assets, an intangible asset can be revalued only when there is an active…

Q: f the value implied by the purchase price of an acquired company exceeds the fair values of…

A: Goodwill refers to an intangible form of asset which arises when a verified buyer acquires  or takes…

Q: Which of the following answers is the correct formula for determining the his Select one: O a.…

A: Historical cost of an asset: It is a sun of purchase price and any cost incurred to bring the asset…

Q: If the value implied by the purchase price of an acquired company exceeds the fair values of…

A: Goodwill on acquisition = Purchase consideration paid - Fair value of net identifiable assets…

Q: Please provide answer

A: Definition of Intangible Assets:Intangible assets are those assets which have no physical substance…

Q: When nonmonetary assets are exchanged, a company records the cost of the nonmonetary asset acquired…

A: When a non monetary assets is exchanged for another non monetary assets. Asset shall be organised.…

Q: The following terms are mismatched with its definitions. Match the terms to its correct definitions.…

A: The terms are matched with the definitions in below table:

Q: If an entity capitalized transaction costs to a financial asset at fair value through profit or…

A: Transaction costs seem to be the costs spent while purchasing or selling a product or service.…

Q: nder IFRS, disclosure for an investment property must include which of the following

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Q: hen a firm disposes of a capital asset, the difference between the net book value of the asset and…

A: Basic Accounting Concept Capital gain or loss on transfer of assets

Q: Which of the following best describes depreciation? A.ccounts for the market value of a physical…

A: Depreciation is an expense which is shown and recorded in the expense side of the income statement.

Q: If a company purchases a limited-life intangible asset, they _____________ amortize the asset and…

A: Intangible assets are those that are not monetary assets and cannot be touched or seen. These arise…

Q: When does a company record an asset related to a gain contingency? a. When future events will…

A: A contingency, in general, is an uncertain future event or condition that may result in a gain or a…

Q: An entity that acquires an intangible asset may use the revaluation model for subsequent measurement…

A: Lets start with basic understanding. Intangible asset is considered under IAS 38 " Intangible…

Q: Which of the following is an essential step in the case of cost/income equivalents for comparing…

A: In financial analysis there is need of comparisons between machines to select most economically…

Q: Depreciation is a process used to: a) Increase the value of an asset over time b) Allocate the cost…

A: In accounting, depreciation refers to the method of allocating the cost of a tangible or physical…

Q: (Multiple Choice Question) Amortizable Cost refers to   1. An asset's Net Book Value minus its…

A: Amortizable cost refers to that cost of a fixed asset which has to be charged as an expense either…

Q: What costs are capitalized, or added to the asset account when acquiring property and equipment? A.…

A: Introduction:- Purchase price of plant and equipment consists of purchase price and all other costs…

Q: e amortized cost for a financial asset

A: Amortized cost is the amount at which financial assets are reported on Balance Sheet.

Q: If an intangible asset has its fair value determined in an active market, IFRS permits the use of…

A: Disclaimer: “Since you have asked multiple question, we will solve the first question for you. If…

Q: Where non-current assets are held for sale, they are required to be measured using: the…

A: Non-current assets are held for sale - Non Current Assets are part of the assets in the balance…

Q: Which of the following capital losses can be used to offset a capital gain made from the sale of an…

A: Losses incurred as a result of the sale of a personal dwelling are not deductible.

Q: Define Market Value? A. The combined cost of purchase and installation of an asset can be…

A: Market Value in general refers to the market capitalisation of a company which can be calculated by…

Q: Interest costs related to which of the following types of assets qualify for interest…

A: The total interest a borrower will pay over the course of the debt is called the interest cost.…

Q: Under IFRS, a company that acquires an intangible asset may use the revaluation model for subsequent…

A: IFRS Policy International Financial Reporting Standards (IFRS) refers to the common set of rules and…

Q: The cost of intangible asset acquired in business combination is recognized by entity in its book…

A: Intangible assets are those assets which have no physical existence in nature but recognition in…

Q: In an accretion/dilution analysis of an acquisition, if the purchase price exceeds the book value of…

A: Accretion / Dilution Analysis of Acquisition Acquisition of the companies means the taken over the…

Q: In an accretion/dilution analysis of an acquisition, if the purchase price exceeds the book value of…

A: Accretion / Dilution Analysis of Acquisition Acquisition of the companies means the taken over the…

Q: Indicate whether each of the following statements is true or false.  The recoverable amount used to…

A: As per IAS 36,Impairment of assets Recoverable amount is greater of  1. Fair value less cost to sell…

Q: Indicate whether each of the following statements is true or false. The recoverable amount used to…

A: Lets understand the basics. As per IAS 36 "Impairement of assets", if asset carrying value is less…

Q: Describe the important properties of fixed assets?

A: Since you have posted a question with multiple questions, we will solve the first question for you.…

Q: What is the 'carrying amount of a depreciating non-current asset? O A. The cost (or fair value) of…

A: INTRODUCTION The Carrying amount is calculated by deducting accumulated depreciation from the…