At the beginning of year X1, a company received a 20% grant towards the cost of a new machine of RM20 million. The asset has an expected life of five with no residual value. Required: Show the extract of the statement of financial position for the years ended 31 December X1 and X2 using both the deferred income and writing off against asset methods. Ceria Bhd obtained a significant amount of grant to the government to build hotels to keep up the demand for rooms generated by the Visit Malaysia programmes. The grant received was RM50 million with the understanding that the hotel built should not cost less than RM400 million. Required: Discuss how the above scenario will be treated in the financial statements of Ceria Bhd. Mahmud acquired a plant at a gross cost of RM1.6 million on 1 October X2. The plant has an estimated life of ten years with its residual value equals to 10% of its gross cost. Mahmud uses a straight line depreciation method. At the time of its purchase,Mahmud received a government grant of 30% of its cost price. One of the terms of the grant is that if the company retains the plant for five years or more, then there is no repayment liability. If the company sells the plant within one year it has to repay 75% of the cost. This amount decreases by 20% in succeeding years. Ceria has no intention of disposing of the plant within five years. Its policy for capital based government grants is to treat them as deferred credit and and release them to income over the life of the asset to which they relate. Required: Discuss whether the company’s policy for treatment of government grant meets definition of a liability MASB Conceptual Framework. Prepare the extract of Ceria’s financial statements for the year ended 30 March X3 in respect of the plant and the grant. (i) applying the company's policy (ii) in compliance with the definition of liability in the Conceptual Framework.

suppose that a hotel has 100 rooms and the hotel is accepting overbooking anticipating some cancellations. The probability for cancellation is 0.07.

a) What is the probability that somoen who made a reservation will be turned away if this hotel has allowed for 110 resevations?

b. 105 reservation

c. why did the answer to part b go down

-Pick two of the principles of green chemistry, state which 2 you chose and show how they connect to your life or intended profession. Please be very clear (as in overtly) as to which two you are selecting so that I am sure to recognize the connections you are making.

-How has the Tragedy of the Commons affected you or your family? For example, when one of the creators of this course (Ted Picciotto) was younger, he and his father would see quail frequently in the state park near their home. Since then they have all but disappeared. Only recently has the population begin to rebound very slightly. If you are not old enough to remember a change in the environment, interview a parent or grandparent if possible.

-How have your studies to date prepared you for the future world in which you live? In what ways do you think your study of chemistry will prepare you?

Please use IRAC.

1. Bob, a sole proprietor, owns a well-know aquatic park in the city of Bakersfield. One day, one of Bobs worst employees was messing around with the music system set up in the back. Without acknowledgement, Bob’s worst employee tripped on a wire and accidentally cut the wire to the point were there was a dangerous shortage. John, Bob’s newest employee noticed the accident and immediately notified Bob. Without taking a second look, Bob told John, “I am sure it’s not big deal, just get back to work.” Next week, a child was playing near the pool in the back and when jumping in the pool, the child tripped on the cord and got electrocuted. The child had 3rd degree burns resulting in a hospital bill of $160,000. The child’s mother consults with you and asks whether they have a personal injury claim against Bob, even though it was Bob’s employee’s fault?

Please use IRAC.

Multiple-Step Income Statement

On March 31, 20Y9, the balances of the accounts appearing in the ledger of Royal Furnishings Company, a furniture store, are as follows:

a. Prepare a multiple-step income statement for the fiscal year ended March 31, 20Y9.

2.  

Beginning inventory, purchases, and sales for an inventory item are as follows:

Assuming a perpetual inventory system and the first-in, first-out method:

a. Determine the cost of the goods sold for the September 30 sale.
$

b. Determine the inventory on September 30.
$

3.

Asset turnover ratio

Financial statement data for years ended December 31, 20Y3 and 20Y2, for Edison Company follow:

What is the difference between a management contract, a brand, and a hotel franchise agreement? Are all three necessary to run a successful hotel?

EXERCISE 4‐2 Workpaper Eliminating Entries, Cost Method LO 5 Park Company purchased 90% of the stock of Salt Company on January 1, 2019, for $465,000, an amount equal to $15,000 in excess of the book value of equity acquired. This excess payment relates to an undervaluation of Salt Company's land. On the date of purchase, Salt Company's retained earnings balance was $50,000. The remainder of the stockholders' equity consists of no‐par common stock. During 2023, Salt Company declared dividends in the amount of $10,000, and reported net income of $40,000. The retained earnings balance of Salt Company on December 31, 2022, was $160,000. Park Company uses the cost method to record its investment. Required: Prepare in general journal form the workpaper entries that would be made in the preparation of a consolidated statements workpaper on December 31, 2023.

Dantley's Furniture manufactures rustic furniture. The cost accounting system estimates manufacturing costs to be $230 per table, consisting of 85% variable costs and 15% fixed costs. The company has surplus capacity available. It is Back​ Forrest's policy to add 55% markup to full costs. A large hotel chain is currently expanding and has decided to decorate all new hotels using the rustic style.​ Dantley's Furniture Incorporated is invited to submit a bid to the hotel chain. What is the lowest price per unit​ Dantley's Furniture should bid on this long- term order ?

Choices : A. $230

B. $196

C. $357

D. $161