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- While calculating operating profit which will be added to net profit a. Profit on Sale of Asset b. Increase in General Reserves c. Interest received d. Refund of TaxWhy is depreciation added to Net CAPEX? A To adjust CAPEX for taxable income B To isolate changes due to buying or selling of CAPEX с To reflect the economic value of the fixed assetsIn determining the value in use, which of the following cash flow is excluded from the computation? I. Income tax receipts or payments. II. Net cash flows received or paid on the disposal of the asset at the end of its useful life in an arm's length transaction which is after using the asset. III. Future costs of improving or enhancing the asset's performance.
- Calculate 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) 1,078.2In a restated set of financial statements prepared in accordance with the current cost accounting, how much would appear as Realized Holding Gain? Note: Realized holding gain (realized through sale) is an increase in fair value of an asset while held.It is the initial cost of acquiring an asset, plus sales tax, transportation and normal costs of making asset serviceable. a. Adjusted standard cost O b. Cost basis O c. Standard cost O d. Adjusted cost basis
- The possible answers for option D are:Cost of Goods SoldDepreciation ExpenseEarned RevenueIncome Tax ExpenseInsurance ExpenseInterest ExpenseSupplies ExpenseWage ExpenseWhen an entity adjusted the historical cost income statement by applying specific price index to depreciation, the income statement is prepared according to: a. Fair value accounting b. Purchasing power accounting c. Current cost accounting d. Nominal peso accountingThe modified internal rate of return (MRR) test is designed to address a limitation associated withthe use of the internal rate of return (IRR). What is that limitation?a) Working capital requirementb) Income taxesc) Reinvestment rated) Depreciation expense
- Assume an income statement with the following classifications: a. Revenuesb. Cost of goods soldc. Distribution expensesd.General & administrative expensese. Other revenues and expensesf. Income tax on income from continuing operationsg. Gain from disposal of discontinued operationsh. Income tax on gain from discontinued operationsi. None of the above Indicate by letter how each of the following should be classified: Income tax effect of loss on sale of plant Income tax on gain on sale of short-term investment in securities Interest expense Interest revenue Loss on sale of patent Dividend revenue from investment Sales returns Services soldWhich of the following is (are) acceptable valuation(s) for reporting of assets on the balance sheet? 1. inventories at lower of cost or net realizable value. 2. accounts receivable at net realizable value. 3. plant and equipment at cost 4. investments at acquisition cost Select one: 1 and 4 1 and 3 1 and 2 2 and 4A capital expenditure would be: Group of answer choices added to the cost of the asset ignored subtracted from the cost of the asset an expense on the income statement