the accounting treatment of assets. Assets (2) General Principles Methods for Measuring Value Australian School of Business Measurement at Recognition: PPE The value put on the asset when first recorded. An item of property, plant and equipment that qualifies for recognition shall be measured at its cost (AASB 116, para 15) 1. Historical Cost 2. Current or Market Value (value in exchange) 3. Value in use (present value) 4. Liquidation Value Elements of costs: – Its
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company as well. 2. In addition to purchased assets like inventories and equipment, companies also may report on their balance sheets intangible assets such as the value of a brand name. True or False 3. A credit limit is: 1. A company’s total debt 2. The maximum that a company can borrow 3. The maximum that a creditor will allow a customer to owe at any point in time 4. The property that a company pledges to guarantee repayment 4. A letter of credit:
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rP os t 9-101-108 REV: MARCH 5, 2007 DAVID F. HAWKINS The Balance Sheet op yo A balance sheet, otherwise referred to as the Statement of Financial Position, presents information related to a company’s financial condition as of a specific point in time based on generally accepted accounting principles. These data are classified in three categories—assets, liabilities, and owners’ equity. The basic balance sheet is: Assets = Liabilities + Owners’ Equity or Resources =
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Question 9) Cone Corporation is in the process of preparing its December 31, 2016, balance sheet. There are some questions as to the proper classification of the following items: | a. | $50,000 in cash restricted in a savings account to pay bonds payable. The bonds mature in 2020. | b. | Prepaid rent of $24,000, covering the period January 1, 2017, through December 31, 2018. | c. | Note payable of $200,000. The note is payable in annual installments of $20,000 each, with the first
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Accounting (Assignment – 1) Q4:Alpha Company has the following information available for the month of February-2012: Items Sales Indirect Labor Cost Direct Labor Cost Utilities Expenses Depreciation: Plant Depreciation: Machinery Depreciation: Furniture Depreciation: Building Depreciation: Equipment Insurance Taxes Sales Commission Sales Executive Salary Legal fees paid Purchases Fuel expenses Freight in Transportation out Wages on purchases Advertising Expenses Office Supplies Rent Repairs and Maintenance
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Accounts payable $239,940 Accounts receivable 140,640 Accumulated depreciation—buildings 179,250 Accumulated depreciation—equipment 51,270 Allowance for doubtful accounts 5,020 Bonds payable (10%, due 2020) 500,300 Buildings 950,390 Cash 41,980 Common stock ($10 par value; 491,980 shares authorized, 149,720 shares issued) 1,497,200 Dividends payable 79,080 Equipment 275,620 Fair value adjustment—non-trading securities (Dr) 7,000 Goodwill 200,650 Income taxes payable 119,490 Inventory
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The word tsunami is derived from a Japanese word which means harbor wave. English also explained that the tsunami, better known as tidal waves. The tsunami wave is actually a big wave incident that can bring a lot of destruction and damage to property which may lead to changes in the natural landscape so devastated by this disaster. Tsunami waves also an incident where these events happened so fast and so we are not able to fight it, as this is usually strong waves could reach very high altitudes
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H otel ProPerties limited ANNUAL REPORT 2008 letoH seitrePorP detimil 8002 TROPER LAUNNA “The Group’s profit before income tax and fair value adjustments to investment properties increased by 28.2% to $94.3 million from $73.5 million last year.” Joseph Grimberg Chairman Contents stnetnoC Chairman’s Statement Business Review Corporate Information Financial Statements Corporate Governance Report Particulars of Group Properties Statistics of Shareholdings 04 06 16 17 86 95 99
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Annual Financial Statements of Nestlé Pakistan Ltd. 03 04 06 07 08 08 09 Auditors» report to the members Balance sheet Profit and loss account Cash flow statement Statement of changes in equity Statement of recognized income and expenses Notes to the financial statements 1 2 AUDITORS» REPORT TO THE MEMBERS We have audited the annexed balance sheet of Nestlé Pakistan Limited (≈the Company∆) as at 31 December 2006 and the related profit and loss account, cash flow statement
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the highest ending inventory FIFO will have the highest cost of goods sold All three companies will have the same value for ending inventory. average cost will have an ending inventory value that falls between FIFO and LIFO 6. (TCOs A, E) Equipment with a cost of $192,000 has an estimated salvage value of $18,000 and an estimated life of 4 years or 12,000 hours. It is to be depreciated by the straight-line method. What is
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