The entry to record transaction costs for financial assets measured at fair value through surplus or deficit would include a debit to _________
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The entry to record transaction costs for financial assets measured at fair value through surplus or deficit would include a debit to _________
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- Under PFRS 9, a financial asset shall be measured subsequently at amortized cost when: I. The business model of the entity is to hold the financial asset in order to collect contractual cash flows on specifies dates. II. The contractual cash flows are solely payment of principal and interest on the principal amount outstanding. O Il only Both I anf II O Either I orll O lonly NextWhich of the application of of a. Presenting a the related s b. Deducting fe gains and pr c. Deducting u trading secu d. Deducting a account andUnearned Revenue is classified as a(n) ________ account. A. equity B. revenue C. liability D. asset
- Also known as the historical cost principle, ________ states that everything the company owns orcontrols (assets) must be recorded at their value at the date of acquisition.A. revenue recognition principleB. expense recognition (matching) principleC. cost principleD. full disclosure principleUnder PFRS 15, what is the measurement of consignment sales revenue? a. realizable value of consideration received or receivaby b. cost of consideration received or receivable c. fair value of the consideration received or receivable d. book value of thw consideration received or receivableHow are gain contigencies reported in the financial statements? a. a contingent account receivable b. an accrued revenue c. a deferred revenue d. not at all
- Under PFRS 15, what is the measurement of consignment sales revenue? A. Realizable value of consideration received or receivable B. Fair value consideration received or receivable C. Book value consideration received or receivable D. Cost of consideration received or receivableReversing entries maybe used in unearned income when the original collection is recorded as a. Asset b. Liabilty c. Expense d. IncomeCalculate the EBIT which should be used for the EV / EBIT multiple given the information below: Net revenues Cost of sales Gross Profit Selling, general and administrative expenses Amortization expense Restructuring costs Acquisition-related costs Asset impairment charges Gain on sales of assets Operating income Interest expense, net Loss on early extinguishment of debt Other expense, net Income (loss) before taxes (Benefit) provision for income taxes Net income (loss) Select one: 1,394,8 1,444.4 1,474.3 S 1,419.6 5,248.1 1,746.0 3,502.1 2,027.8 During fiscal 2050, the company sold assets relating to the Cutey brand for a total disposal price of $29.2. The Company allocated $4.2 of goodwill to the brand as part of the sale. The Company recorded a gain of $24.8 which has been reflected in Gain on sales of assets in the Consolidated Statement of Operations for the fiscal year ended June 30, 2050. 79.5 86.9 174.0 5.5 (24.8) 1,153.2 81.9 3.1 30.4 1,037.8 (40.4) 1,078.2
- Advanced collections from customers prior to the performance obligation being satisfied is accounted as what account? As a deposit reported as an asset on the balance sheet A liability reported on the balance sheet Revenue reported on the income statement Deferred revenue reported as comprehensive income68. Which of the following is reported as other comprehensive income in accordance with PAS 1, Presentation of Financial Statement? Group of answer choices sale of inventory at more than cost changes in revaluation surplus impairment loss of depreciable asset loss on sale of machineryIn accordance with PAS 1, the profit or loss section or the statement of profit or loss shall include line item for gains and losses from derecognition of Group of answer choices Financial assets measured at fair value through profit or loss. Financial assets measured at amortized cost. All of these. Financial assets measured at fair value through other comprehensive income.
