Answer: Not required to be accounted for by the short-cut method if using IFRS.
Explanation:
A Short term Lease is one where a person or entity is granted the legal use of a space for a small period of time which is a year or less.
In calculating this, the Sixteenth International Financial Reporting Standards, IFRS 16, states that a Short Term lease may be charged directly to a Profit and Loss account.
It does not approve the use of the Shortcut method which is a qualitative measure of analysis that is ONLY approved under the US Accounting system (GAAP) and even then is not widely used.
Answer:
The answer is below
Explanation:
Both General ethics and Applied Ethics are part of philosophical knowledge in understanding humans and their society.
Hence, the difference between general and applied ethics is:
General ethics is a philosophical term that is used to describe the theory of values in human activities. It deals with answering the controversial questions of human morality by establishing the idea of good and evil, right and wrong.
On the other hand, Applied Ethics is a term used in philosophy to describe a branch of ethics that is established to answer the issue of moral dilemmas, strategies, and operations in individuals' life, organizations, technology, and state.
Answer:
The answer is: Equity at the end of the year will be $123,000
Explanation:
At the beginning of the year the balance sheet was as following:
assets $195,000 liabilities $75,000
equity $ 120,000
Then during the year the income statement is:
- total revenues $226,000
- <u>total expenses $175,000 </u>
- net income $ 51,000 (this increases assets and equity)
If the owners withdrew $48,000, then cash and equity will decrease.
The ending balance for the year:
assets $195,000 + $51,000 liabilities $75,000
-$48,000 = equity $120,000 + $51,000 - $48,000 =
$198,000 $123,000
Answer:
See below
Explanation:
Computation of Cash flow
Net cash provided by operating activities
$140,000
Less:
Net cash used for investing activities
($86,000)
Less:
Net cash provided by financing activities
(64,000)
Ending cash balance
($10,000)
Therefore, Lee would expect free cash flow of ($10,000) for 2024.
If jorge produces 20 pounds of green beans, he can produce <u>240 </u>pounds of corn.
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Production Possibilities Schedule</h3>
Based on the Production Possibilities Schedule table given pound of green beans is 20 while pounds of corn is 240.
Based on this if he produces 20 pounds of green beans he can as well produce 240 pounds of corn.
Jorge's Production Possibilities Schedule
Pounds of Green Beans Pounds of Corn
20 240
Therefore If jorge produces 20 pounds of green beans, he can produce <u>240 </u>pounds of corn.
Learn more about Production Possibilities Schedule here:brainly.com/question/26492942
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