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bagirrra123 [75]
3 years ago
8

Ski Park Company purchased a gondola for $440,000 (no residual value) at the beginning of 2015. The gondola was being depreciate

d over a 10-year life using the double-declining method. At the beginning of 2018, it was decided to change to straight-line. An accompanying disclosure note would include each of the following except:_______.A. The cumulative effect of the change. B. Justification that the change is preferable. C. The effect of a change on per share amounts affected for all periods reported. D. The effect of a change on any financial statement line items affected for all periods reported.
Business
2 answers:
krek1111 [17]3 years ago
4 0

Answer:

D (The effect of a change on any financial statement line items affected for all periods reported.)

Explanation:

Any change in the financial system should include all other 3 explanations. It should also include a cumulative effect of the change but it would not include change to every financial line and every statement.

As they only needs to adjust the cumulative effect.

bixtya [17]3 years ago
3 0

Answer:

The correct option is C,The effect of a change on per share amounts affected for all periods reported.

Explanation:

Change in accounting policy on depreciation should only take place when the new method is more justified and would present a  more fairer position and performance of the entity involved,hence option B is wrong.

Also,the disclosure requirements include the cumulative effect of the change as well as the effect  on financial statements line items in accordance with US. GAAP and International Financial Reporting Standards.

The impact on per share value is not a requirement,hence option C is correct

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To the extent that Italian Americans have intermarried with Anglo Americans and are proportionately represented in various socie
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Answer:

The correct answer is (C) structural assimilation

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3 years ago
Explain why most trade occurs because of comparative advantage. Be sure to provide examples from the data tables or from the les
Murljashka [212]

Most trade is due to the comparative advantage of an organization's ability to produce a good or service with lower marginal cost and opportunity cost.

As an example, we can cite trade between Africa and the United States, where Africa markets agricultural products such as corn and citrus to the US, and the US markets technological products such as computers to Africa.

Therefore, companies will use comparative advantage to acquire goods and services at lower prices than other competitors.

Learn more here:

brainly.com/question/7780461

4 0
3 years ago
A decision strategy is a sequence of decisions and chance outcomes, where the decisions chosen depend on the yet to be determine
jasenka [17]

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false is the correct answer

6 0
2 years ago
On September 1, 2021, Custom Shirts Inc. "entered into a lease agreement appropriately classified as an operating lease". The le
Savatey [412]

Answer: Please refer to the explanation section

Explanation:

The question is not clear in terms of when is the financial year end, we only its 2021. We will assume the financial year started in January 2021 and ended December 2021

Operational Lease is an agreement where the lessor (owner of the asset)  allows the lessee (user of the asset) to only use the asset without the transfer of ownership. Ownership of the asset is not transferred to the lessee/ user of the asset. lease Payments/ Rental payments are considered as expenses and are recognize in the income statement.

Custom Shirts Inc entered into a Lease agreement on the 1st of September 2021. assuming the financial year ends on December 2021, the expense Recognized in the Income statement for the year ended December 2021 will

$ 24000 x 4 months/12 months =$ 8000

8 0
3 years ago
Pauley Company needs to determine a markup for a new product. Pauley expects to sell 22,000 units and wants a target profit of $
Sever21 [200]

Answer:

variable markup % = 60%

Explanation:

total units sold 22,000

total costs associated with selling the 22,000 units:

variable production costs $18 x 22,000 = $396,000

variable S&A costs $13 x 22,000 = $286,000

fixed overhead = $20,500

fixed S&A = $36,700

total costs = $739,200

total cost per unit = $33.60

selling price = $33.60 + $16 = $49.60

markup percentage = [(sales price - unit cost) / unit cost] x 100

the total markup % = [49.60 - 33.60) / 33.60] x 100 = 47.62%

but since we are going to calculate the markup percentage solely based on variable costs, then:

variable cost per unit = $31

selling price = $49.60

the variable markup % = [49.60 - 31) / 31] x 100 = 60%

8 0
3 years ago
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