Accounting Principles 12E WileyPLUS with Loose-Leaf Print Companion with WileyPLUS Leanring Space Card Set
Accounting Principles 12E WileyPLUS with Loose-Leaf Print Companion with WileyPLUS Leanring Space Card Set
12th Edition
ISBN: 9781119036395
Author: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Publisher: Wiley (WileyPLUS Products)
Question
Book Icon
Chapter 2, Problem 2.1IFRS

(a)

To determine

Financial Statements: The part of annual report that consist the information about the financials of a company. Income statement, statement of retained earnings, balance sheet and cash flow statement are included in financial statements. These are prepared to present the financial performance and position of a company.

Notes to Financial Statement: Companies need to inform the policies and concepts, followed to prepare the financial statements. This information is added below the financial statements in the annual reports as notes. These notes are called the notes to financial statement.

Consolidated Income Statement: The income statement in which the combined revenues and expenses of parent company and all its subsidiaries are reported is called a consolidated income statement. It presents a complete picture of income and expenses of the corporation in an accounting period.

Consolidated Statement of Financial Position: Statement of financial position, usually known as balance sheet represents the value of company’s assets, liabilities and shareholders’ equity at the end of accounting period. When it is prepared for parent company and all its subsidiaries combined, it is called consolidated statement of financial position.

To Identify: The statement that reported the (a) other operating income and expense (b) cash and cash equivalents (c) trade accounts payable and (d) Cost of net financial debt for Company L.

(b)

To determine

To Identify: The statement that reported the (a) other operating income and expense (b) cash and cash equivalents (c) trade accounts payable and (d) Cost of net financial debt for Company L.

(c)

To determine

To Identify: The statement that reported the (a) other operating income and expense (b) cash and cash equivalents (c) trade accounts payable and (d) Cost of net financial debt for Company L.

(d)

To determine

To Identify: Cost of net financial debt for Company L.

Blurred answer
Students have asked these similar questions
I cannot figure out the account of "Goodwill" or "APIC from Pushdown Accounting." I thought APIC should be $285,000, but it didn't work for some reason. And I didn't know we had goodwill, but we do, and I can't figure out how to get the correct answer. I tried $350,000 for APIC, but that also doesn't work, and I am at a loss of what to do next. Please explain as clearly as possible how to do Goodwill and the APIC from Pushdown Accounting. Thanks so much! :)
None
Hii tutor please given answer general Accounting question

Chapter 2 Solutions

Accounting Principles 12E WileyPLUS with Loose-Leaf Print Companion with WileyPLUS Leanring Space Card Set

Knowledge Booster
Background pattern image
Recommended textbooks for you
Text book image
FINANCIAL ACCOUNTING
Accounting
ISBN:9781259964947
Author:Libby
Publisher:MCG
Text book image
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
Text book image
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Text book image
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
Text book image
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
Text book image
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education