This post is currently awaiting moderation.
Question
In: Accounting
Which measurement method would be most appropriate for the following...1. Inventory 2. Shares in a public company 3. Land 4. Lease (finance/capital lease) 5. Long-term receivable
Which measurement method would be most appropriate for the following items: historical cost, fair value, lower of cost and net realizable value, net realizable value, or present value?
1. Inventory
2. Shares in a public company
3. Land
4. Lease (finance/capital lease)
5. Long-term receivable
Required:
Identify the most appropriate measurement method for each item.
Solutions
Expert Solution
1.
Inventory – lower of cost and net realizable value
2.
Shares in a public company – Fair value
3.
Land – Historical cost (ASPE) or historical cost or fair value (IFRS – depends on measurement model selected and use of land e.g. rental property)
4.
Lease – Present value
5.
Long term receivable – Present value
1. Inventory – lower of cost and net realizable value
2. Shares in a public company – Fair value
Junaid answered 1 year agoRelated Solutions
Recording Entries for Long-Term Note Receivable; Effective-Interest Method On January 1, 2020, Jacobs Company sells land...
Recording Entries for Long-Term Note Receivable;
Effective-Interest Method
On January 1, 2020, Jacobs Company sells land financed through a
$64,000 note, issued by Andress Company. The note is a $64,000, 8%,
annual interest-bearing note. Andress agrees to repay the $64,000
proceeds on December 31, 2021. The prevailing interest rate on
similar notes is 9%. Assume that the cost of the land is equal to
the fair value of the note.
Required
Prepare all entries for Jacobs over the note term,...
Recording Entries for Long-Term Note Receivable; Effective-Interest Method On January 1, 2020, Jacobs Company sells land...
Recording Entries for Long-Term Note Receivable;
Effective-Interest Method
On January 1, 2020, Jacobs Company sells land financed through a
$40,000 note, issued by Andress Company. The note is a $40,000, 8%,
annual interest-bearing note. Andress agrees to repay the $40,000
proceeds on December 31, 2021. The prevailing interest rate on
similar notes is 11%. Assume that the cost of the land is equal to
the fair value of the note.
Required
Prepare all entries for Jacobs over the note term,...
Module 20: Long-Term Financing 1. Why do public organizations use municipal bonds to finance long-term capital...
Module 20: Long-Term Financing 1. Why do public organizations
use municipal bonds to finance long-term capital projects?
2. A major urban center is planning to issue a $100 million,
20-year, semiannual-interest-paying municipal bond for the
construction of a stadium.
a. The interest rate is 5.875%, based on the economic and
financial conditions of the city and city government.
b. The design and issuance costs are estimated to be $10 million
and 1%, respectively.
c. What is the total interest paid...
1. most appropriate statistical tst 2. null 3. Alternative hypothesis 4. Calculate appropriate test statistic 5....
1. most appropriate statistical tst 2. null 3. Alternative
hypothesis 4. Calculate appropriate test statistic 5. A statistical
conclusion
The following are results of a protein standard curve assay for
the presence of a protein. A standard protein of known
concentration was added to each tube and the OD600 was measured on
a spectrophotometer. Determine protein conc in unknown sample with
a OD600 of 0.345.
Protein Conc (ug/ul)
OD600
0
0.000
10
0.081
20
0.118
30
0.203
60
0.378
90...
Match each term with its most appropriate definition 1) brain 2) meninges 3) nerves 4) spinal...
Match each term with its most appropriate definition
1) brain
2) meninges
3) nerves
4) spinal cord
5) coma
6) concussion
7) hemiparesis
8) cerebrovascular accident
9) epilepsy
10) syncope
11) transient ischemic attack
12) electroencephalogram
13) lumbar puncture
14) cerebrum
15) cerebellum
16) pons
17) medulla oblongata
18) dura mater
19) aphasia
20) Bell's palsy
Definitions:
Loss of ability (as in a stroke) to speak
Deep sleep with no response to stimulus
Record of the electrical activity of the...
Determine the following 2021 amounts and ratios: 1. Current liabilities 2. Long-term liabilities 3. Accounts receivable 4. The acid-test ratio
The current asset section of Guardian Consultant’s balance sheet consists of cash, accounts receivable, and prepaid expenses. The 2021 balance sheet reported the following: cash, $1,300,000; prepaid expenses, $360,000; long-term assets, $2,400,000; and shareholders’ equity, $2,500,000. The current ratio at the end of the year was 2.0 and the debt to equity ratio was 1.4.
Required:
Determine the following 2021 amounts and ratios:
1. Current liabilities
2. Long-term liabilities
3. Accounts receivable
4. The acid-test ratio
Raysut Cement Company: Strengths: 1- 2- 3- 4- 5- Weaknesses : 1- 2- 3- 4- 5-...
Raysut Cement Company:
Strengths:
1-
2-
3-
4-
5-
Weaknesses :
1-
2-
3-
4-
5-
Opportunities :
1-
2-
3-
4-
5-
Threats:
1-
2-
3-
4-
5-
Norman Plc has the following sources of long-term capital: 20 million £1 Ordinary Shares with a...
Norman Plc has the following sources of long-term capital:
20 million £1 Ordinary Shares with a market value of £3.50 per
share. A dividend of £0.30 per share has just been paid and are
expected to grow at 5% per annum.
8 million irredeemable £1 Preference Shares with a market value
of 92p. The annual dividend is £0.38 per share.
£32 million of irredeemable Debenture Stock with a market value
of £80 for each £100 nominal value with an annual interest...
Determine the following 2021 balance sheet items: 1. Current assets 2. Shareholders’ equity 3. Long-term assets 4. Long-term liabilities
The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities, accounts receivable, and inventory. On December 31, 2021, the balance sheet revealed the following:
Inventory ................................$ 840,000
Total assets .........................$ 2,800,000
Current ratio ...................................2.25
Acid-test ratio ...................................1.2
Debt to equity ratio .........................1.8
Required:
Determine the following 2021 balance sheet items:
1. Current assets
2. Shareholders’ equity
3. Long-term assets
4. Long-term liabilities
following items would be included in cash and cash equivalents: 1. 2% investment in common shares public company.
The following items would be included in cash and cash equivalents:1. 2% investment in common shares public company.2. 2% investment in common shares private company.3. 60-day investment certificates.4. Bank overdraft.5. Commercial paper. Required: Identify whether each statement is true or false.
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- TOWS matrix of WOW MOMO
- Write an anecdotal lead with a person focus from the following information; include a nut graph....
- Step 1 Picture yourself as a Senior Product Manager in your favorite industry. This could be...
- Gauss Jordan elimination using python for a 2d list (3x3) without using any library. Thanks
- What are some of the greatest barriers preventing our schools from meeting the educational goals for...
- What aspect of the materials used in nanotechnology differentiates it from the nanoscale devices that the...
- Postfix Arithmetic Operation (C++) Friday, 27 September 2019, 04:21 PM Use stack to implement postfix arithmetic...
ADVERTISEMENT