Answer:
The correct answer is - Core revenue recognition principle.
Explanation:
The stipulations of an exchange transaction or other conditions related to the recovery of accounts receivable over a long period may prevent a reasonable estimate of the collectibility of such accounts. Both the term sales method and the income and cost recovery method can be used for the recognition of income and expenses, during the entire period in which collectibility is not reasonably assured.
Answer:
It's fair value at the date of the transfer
Explanation:
Transfers of securities between categories of investments should be accounted for at FAIR VALUE, with unrealized holding gains or losses treated in accordance with the nature of the transfer.
Available-for-sale securities are reported at fair value; changes in value between accounting periods are included in accumulated other comprehensive income in the equity section of the balance sheet.
The fair value option gives companies the option to report most financial instruments at fair value with all gains and losses related to changes in fair value reported in the income statement.
Explanation:
Donna is going to engage in
buying <u>raw materials</u>?
Answer:
Ending inventory value= $9,127
Explanation:
Giving the following information:
January: 17 units at $127
February: 27 units at $137
May: 22 units at $147
September: 19 units at $157
November: 17 units at $167
<u>Using the specific identification method, we need to multiply each unit for its specific cost.</u>
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Ending inventory:
January= 9*127= 1,143
February= 11*137= 1,507
May= 13*147= 1,911
September= 11*157= 1,727
November= 17*167= 2,839
Ending inventory value= $9,127
Answer:
1. a. Callie =$375,000
b. Neil $25,000
2. Equal
Explanation:
The computation of given question is shown below:-
1. Adjusted Callie contribution = $300,000
Neil contribution = $100,000 × 50%
= $75,000
Callie basis in partnership interest after the formation = $300,000 + $75,000
= $375,000
Adjusted Neil contribution = $100,000
Neil contribution = $100,000 × 50%
= $75,000
Neil basis in partnership interest after the formation = $375,000 - $75,000
= $25,000
2. Equal or in Profit-Loss Sharing Ratio
In the profit - loss sharing ratio or equal when debt is allocated between the two partners
