QUESTION TWO b. IFRS are relevant to various stakeholders. State the relevance of IFRSs to each of the following stakeholders: i. Investors ii. Multinational companies iii. Governments

Q: A review of the ledger of Blue Spruce Co. at December 31, 2022, produces the following data pertaini...

A: Adjusting Entry – Adjusting Entries are the entries that make the accrual principle work for the org...

Q: Explain the measurement of accounts receivable. (Write a complete thought or answer)

A: Account receivable is shown in the balance sheet as assets. Account receivables is the total outstan...

Q: Northwest Company produces two types of glass shelving: rounded edge and squared edge. The company r...

A:

Q: Determine the components of pension expense that the company would recognize in 2020. (With only one...

A: Pension expense (PE) refers to those expenses which are charged by the company in relation to pay it...

Q: Cash ccounts receivable quipment ccounts payable . Lawson, Capital $ 11,500 I. Lawson, Withdrawals 5...

A: Solution: Statement of owner's Equity is a statement which represents beginning and ending balances ...

Q: 14. Which of the following accounts is not used to account for merchandise sales transactions? a. Sa...

A: The term Merchandise means activity which increases sales especially increase sales from retailer to...

Q: Walnut Systems produces two different products, Product A, which sells for $127 per unit, and Produc...

A: >There are various methods to allocate the overhead support costs that are not directly related t...

Q: Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Mo...

A: The equivalent units are calculated on the basis of percentage of the work completed during the peri...

Q: Journal entry 1. You buy a computer for $1,500.00 on credit DR: $1,500.00 CR: $1,500.00 2. You nurch...

A: Answer: Journal entry are booked as double entry having debit and credit.  

Q: Hult Games buys electronic components for manufacturing from two suppliers, Milan Components and Dun...

A: Late delivery costs are costs related with the delivery of products, which is delivered late with th...

Q: 5. Dapitan, Inc. has the following receipts during 2021: From service billings to clients Advances f...

A: cash basis income is calculated in the year in which it is received regardless of its earning actual...

Q: On December 31,2021 the end of the fiscal year, Califonia Mircotech Corporation completed the sale o...

A: Net profit is calculated by deducting the expenses from the revenues of the company.  

Q: purchased furniture £5400 for sale on credit from home ltd

A: solution transaction given purchased furniture £5400 for sale on credit from home ltd It means that ...

Q: Mr. Lim ran for a government position during the country’s 2019 elections. He received campaign fund...

A: All candidates, political parties, and party-list groups are required to remit  5% creditable withho...

Q: estimated cash flows before tax (CFBT) are? 10,000; 11,000; R14,000; 15,000 and new machinery. The p...

A: NPV= Present Value of cash inflow -  Present value of cash outflow Average rate of return= Average p...

Q: Exercise 3-4 (Division of Profit under Various Assumptions) Blessing and Linda formed a partnership ...

A: The partnership comes into existence when two or more persons agree to do the business and share pro...

Q: Sara Computer Sales (SAS) has supplied the following list of transactions for his business. The acco...

A: solution cash flow statement comprises of                 -cash flow from operating activities      ...

Q: The premium on a four-year insurance policy expiring on december 31, 2034 was paid in total on Janua...

A: Prepaid assets is one of the current asset of the business, which means expenses which are related w...

Q: Iring process whe ng gold flake, are heated, mixed, and molded ir king department. The individual ca...

A: Cost of goods sold are the cost of the units sold . They  are  completed units that are transferred ...

Q: What is the correct order of steps in the accounting cycle?

A: Accounting is very important process used in business. The main purpose of accounting is to record a...

Q: 17. For the merchant, bank credit card sales are treated in a manner similar to a. sales on account....

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new ques...

Q: Prepare a cash flow statement for the year ended 30 June 2020. In preparing the report for the cash ...

A: Cash flow statement is the statement which is prepared by the company at the end of period in order ...

Q: What is the carrying value of Land after the recognition of the impairment loss?

A:

Q: $ 11,500 I. Lawson, Withdrawals 5,800 Services revenue 7,800 Rent expense 4,170 Wages expense 19,130...

A: Solution: Balance is a financial statement which summarizes all the assets, liabilities and equity o...

Q: The transactions of Belle Company's appear below. 1. D. Belle created a new business and invested $6...

A: As per recording process , First journal entries are prepared from which entries are posted into T-a...

Q: Selected transactions for Marigold, an interior decorator corporation, in its first month of busines...

A: Increase in assets should be debited and decrease in assets should be credited. Increase in liabilit...

Q: The following amortization and interest schedule reflects the issuance of 10-year bonds by Cullumber...

A: Bonds Payable - Bonds is an promissory notes that the issuer paid along with interest on maturity.

Q: Differentiate using an example company’s primary revenue and secondary revenue, company’s primary ex...

A: Revenue refers to the funds generated by an entity through its direct or indirect business operation...

Q: Exercise 3-2 (Division of Profit; Interest on Average Capital) Danica and Jenson are partners. Their...

A: The partnership comes into existence when two or more persons agree to do the business and share pro...

Q: QUESTION 39 Max and Freda are both 50% partners in Best Consulting, a partnership that is a qualifie...

A: solution Note : as per the Q&A guideline we are required to answer the first question only . Ple...

Q: In 2018, SoundSmart Company started its production, specialising in nanufacturing motorcycle helmets...

A: SOLUTION CALCULATION OF MANUFACTURING COST- INDIRECT MATERIALS  RM5 *120000 RM600000 FACTORY EQ...

Q: You are buying your first house for $220,000 and are paying $30,000 as a down payment. You have arra...

A: Answer) Calculation of monthly payment Installments are to be paid monthly Amount Borrowed $19...

Q: To practice how the use of debits, credits, and double entry accounting affect individual T accounts...

A: The accounting equation is written as: Assets = Liabilities + equity Equity can be calculated as : E...

Q: xercise 4-7 (Algo) Income statement presentation; discontinued operations; restructuring -3, 4-4] sq...

A: A partial income statement only shows data for a portion of a normal accounting period. This is typi...

Q: On March 1, AYE Merchandising had an inventory of P560,000 in its retail store. Purchases made in Ma...

A: Loss by Fire - Loss by fire or any other natural calamities is an extraordinary loss for the organiz...

Q: What is the main advantage of an object classification budget? What are its limitations? How do perf...

A: Answer: Object classification budget is the budget which is traditional system of budget and it is m...

Q: Matthew Martin, the owner of Innovation Consulting, started the business by investing $58,000 cash. ...

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal....

Q: Shari exchanges an office building in New Orleans (adjusted basis of $500,000) for an office buildin...

A: Realized gain = value of office building in Baton Rouge - value of office building in Orleans =$9000...

Q: Up There IQ Inc. is a Gifted & Talented recruiting company that began operations on January 1, 20X1....

A: Journal entry is the practice of recording commercial transactions for the first time in the books o...

Q: A company makes the payment of a one-year insurance premium of $4,440 on March 1, 2019.   Exercise...

A: Insurance expense is the amount money that has been incurred by the entity to buy the insurance. Ins...

Q: Installment Sales Cost of Installment Sales Gross Profit 1,500,000.00 2,400,000.00 8 1 2,400,000.00 ...

A: In case of multiple sub-parts, only first 3 sub-parts shall be answered. Kindly repost the question ...

Q: Based on the data in Table 11.10 determine:a) How many weeks of fin ished goods were on hand at the ...

A: Inventory turnover days is the number of days in which inventory is sold or held by the business dur...

Q: Cost $124,000 263.000 $387.000 1,000 shares of Stryker Corp., common 3,000 shares of Medtronic, Inc....

A: Investment in other company is shown as asset in investor company financial statement. The method of...

Q: Indicate the financial statement on which each of the following items appears: income statement, sta...

A: In income statement we should record all Incomes (credited to income statement) and all expenses (To...

Q: Paymore Products places orders for goods equal to 75% of its sales forecast in the next quarter whic...

A: Cash budget refers to an estimation of cash inflows and outflows in a business over a specified peri...

Q: The following information relates to CEE Company: (Refer to image). Assume that the company uses the...

A: Retail inventory method is used by the retail operations like department stores to value the invento...

Q: mine plc has annual credut of k15m and allows 90 days credit. it is consideringba 2% discount paymen...

A: Calculation of Current Interest Cost Note: Since the customers pay back after 90 days, amount due fr...

Q: Sheridan Company received the following selected information from its pension plan trustee concernin...

A: Answer -    A defined benefit plan, more commonly known as a pension plan, where you know the pensio...

Q: Modified cash basis or hybrid basis differs from accrual basis in the computation of Gross profit ...

A: solution concept accrual basis of accounting                 This concept of accounting means that t...

Q: expense, and advertising expense. It categorizes the remaining expenses a Adjusted Account Balances ...

A:                            Working Notes :-                  Cost of Goods Sold Particulars Amoun...