Answer:
Rothbart Manufacturing
From the case study, Rothbart Manufacturing has incurred an equivalent cost of 80% in the manufacture of the bumper cars, it should then recognize revenue of $48,000 ($60,000 * 80%) under the percentage of completion method.
However, under the new IFRS 15 or ASC 606 Revenue from Contracts with Customers, Rothbart Manufacturing can only recognize revenue based on the fulfillment of the contract's performance obligations, evidenced by the transfer of the asset or some benefits to the buyer.
I do not see any transfer of benefits here. Instead of recognizing any revenue the current year, Rothbart Manufacturing should assign the cost incurred so far (80%) to Work in Process Inventory, which is a current asset. It can then recognize revenue when the bumper cars are sold.
Explanation:
The International Financial Reporting Standard (IFRS) 15 specifies when revenue from contracts with customers should be recognized. This standard is equivalent to the US Accounting Standard Code 606.
Answer:
The interest rate is the amount a lender charges a borrower and is a percentage of the principal—the amount loaned. The interest rate on a loan is typically noted on an annual basis known as the annual percentage rate (APR).
Explanation:
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Answer:
The answer is A
Explanation:
Let re-visit the definition of information asymmetry before we further investigate the scenario. Information asymmetry describes the situation when the two parties are negotiating and one of them have more relevant information/knowledge that helps he/she gains competitive advantages in negotiation over the other party.
In the described scenario, the information that Nina has been fired from her previous job mainly because of her fault rather than any other objective reasons is of much importance for the interviewer's decision-making in term of hiring Nina. Did the interviewer know this piece of information, he/she may not hire Nina or the negotiating salary level would be pretty much lower.
Answer:
B. Official note of sale.
Explanation:
An official note of sale is a disclosure document for new issue municipal bonds. These bonds, when sold by the issuer, must ensure that an officail not of sale is distributed to all purchasers before or at the settlement. The notice of sale is distributed by underwriters.
Cheers.
A purchasing power parity (PPP) adjustment enables a more precise comparison of the level of living across nations. The cost of living in the US serves as the foundation for the adjustment.
<h3>What is purchasing power parity (ppp)?</h3>
By removing the variations in price levels between nations, purchasing power parities (PPPs) are rates of currency translation that aim to equalize the purchasing power of various currencies. The more the salary and price discrepancies across nations, the greater the productivity gaps in the production of marketable products, and, consequently, the greater the discrepancy between buying power parity and the equilibrium exchange rate.
By taking the geometric mean of the pricing relationships between each pair of economies for the two varieties of rice, the basic-heading PPP for each pair of economies may be calculated directly. This comparison is bilateral. Indirectly, PPP C/A PPP B/C = PPP B/A can be used to calculate the PPP between economies B and A.
Hence, A purchasing power parity (PPP) adjustment enables a more precise comparison of the level of living across nations. The cost of living in the US serves as the foundation for the adjustment.
To learn more about purchasing power parity refer to:
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