Financial statements include assets listed at historical costs. Hence, the assets are recorded at their historical cost.
<h3>What do you mean by historical costs?</h3>
The price paid when an asset was purchased is known as the historical cost. On a company's balance sheet, the majority of long-term assets are recorded at their historical cost.
One of the fundamental accounting principles outlined by generally accepted accounting principles is historical cost (GAAP). The use of historical cost is consistent with conservative accounting because it avoids overstating an asset's value.
Hence, Financial statements include assets listed at historical costs. Hence, the assets are recorded at their historical cost.
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Answer:
Books Shirts
4 0
3 3
2 6
1 9
0 12
Explanation: At combination E, the economy is producing 0 books and 12 shirts. Since the opportunity cost of 1 book is 3 shirts, moving from point E to point D (gaining 1 book) requires this economy to produce 3 fewer shirts. Thus, the number of shirts in combination D must be 12 shirts−3 shirts=9 shirts. The rest of the combinations can be calculated in a similar fashion, with the answers summarized in the following table.
A 4 3−3=0
B 3 6−3=3
C 2 9−3=6
D 1 12−3=9
E 0 12
Answer:
The answer is: C) Human capital is more important than financial capital.
Explanation:
Steve emphasizes the value of human resources or human capital. He is convinced that the prime factor in the success of a company is its human capital. The actions he takes empowers his staff by giving them a say in the decision making processes.
Answer:
The correct option is (c) Increase tax expense by $1,541 million
Explanation:
Step 1. Given information.
- Decrease in Deferred Tax Asset 1503 Million
- Increase in Deferred Tax Liabilities 38 Million
Step 2. Formulas needed to solve the exercise.
Increase in Tax Expense= Decrease in Deferred Tax Asset + Increase in Deferred Tax Liabilities
Step 3. Calculation.
Increase in Tax Expense = 1503+38 = 1541 Million
Step 4. Solution.
The correct option is (c) Increase tax expense by $1,541 million
Answer:
(A) $143,220,000
(B) $9,452,520
(C) $133,767,480
Explanation:
(a) The computation of the total proceed is shown below:
= Number of shares sold at IPO × IPO price
= 8,250,000 shares × $17.36
= $143,220,000
(b) The computation of the dollar amount of the underwriting fee is shown below:
= Total proceeds × underwriting discount
= $143,220,000 × 6.6%
= $9,452,520
(c) The computation of the net proceeds is shown below:
= Total proceeds - underwriting fee
= $143,220,000 - $9,452,520
= $133,767,480
