Answer:
The correct answer is letter "A": Provides information primarily for external decision makers.
Explanation:
Financial Accounting is the method of gathering, recording, summarizing and publishing financial data on a company that is useful to <em>investors and creditors</em>. The ultimate goal is to accurately report a business' financial picture and results at a given point in time and over a specified period.
<em>Financial accounting output is a financial report containing different statements and explanatory notes.</em>
D because many people are travelling together and the train can occasionally coast due to level travel and the greater the mass the more often the momentum
Answer:
C) Identify distinct goods and/or services as separate performance obligations.
Explanation:
This refers to allocating different prices to several related activities that are part of one single large project or transaction. When you do this, you must specify which parts, goods or services you will require and at what specific prices. E.g. you agree to purchase uniforms for a football team, you will pay X amount when the helmets are delivered, another amount for the shoes and finally an amount for the uniform. The school will pay as the different products are delivered.
Answer:
The number of common shares outstanding after stock-split is 6029.66 million
Explanation:
A 7-1 stock split implies that for every share that a shareholder has previously,he gets 7 now.
As a result, the total outstanding common shares now would the previous common shares multiplied by 7.
Hence the new outstanding common shares =861.38 million*7=6029.66 million
The equity of equity share capital share stays the same as there was no new cash investment in the company but the par value per share is also divided by 7 to give $0.00001 per share ($0.00007/7)
Answer:
warranty expense = $240
estimated warranty liability = $240
Explanation:
There is no option on the customer to take the warranty or not. Therefore this type of warranty is known as an Assurance type warranty.
Assurance type warranties are accounted for terms of IAS 37 - Provisions as follows ;
Year 1
Warranty expense $240 (debit)
Warranty Provision $240 (credit)
<em>Warranty Amount = $6,000 × 4% = $240</em>
Year 2
<em>When warranty claim is subsequently received</em>
Warranty Provision $209 (debit)
Materials $209 (credit)
