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AVprozaik [17]
3 years ago
7

In its first year of operations, Wiley Ltd. had the following transactions relating to its common shares: Jan 1 Issued 5,000 sha

res for cash at $45 per share. Jul 1 Issued 3,000 shares for cash at $43 per share. Dec 1 Issued 6,000 shares for the acquisition of land. The land has a fair value of $180,000 and the shares are currently trading at $46 each. If Wiley Ltd is preparing statements in accordance with International Financial Reporting Standards (IFRS), the sum of the entries for the first year would be:
Business
1 answer:
zlopas [31]3 years ago
6 0

Answer:

Sum of Entries for the First Year

Land $ 276,000 (debit)

Cash $225,000 (debit)

Equity $501,000 (credit)

Explanation:

Jan 1

Cash $225,000 (debit)

Equity $225,000 (credit)

<em>5,000 × $45 per share = $225,000</em>

Dec 1

Land $ 276,000 (debit)

Equity $ 276,000 (credit)

<em>6,000 shares × $46 each = $ 276,000</em>

<em>Land is Initially Recognised at Cost in terms of IFRS (IAS 16)</em>

Sum of Entries for the First Year

Land $ 276,000 (debit)

Cash $225,000 (debit)

Equity $501,000 (credit)

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konstantin123 [22]

The responsibility for answering the phones and filing correspondence in addition to the tasks is an example of extension.

<h3>What is an extension?</h3>
  • An extension refers to doing an even wider range of tasks in addition to the tasks assigned.
  • Task switching is a sort of multitasking that involves switching between several abilities, tasks, or cognitive sets.
  • Multitasking is the practice of dividing one's attention among several skills, tasks, or cognitive sets.
  • The process of working as an extension involves interspersing and overlapping the execution of various programs. This is frequently accomplished by taking advantage of the discrepancy between a computer's quick processing power and its slower input/output devices.
  • If necessary, put off other chores so that one may focus entirely on the important ones when working as an extension.
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7 0
2 years ago
You expect KT industries​ (KTI) will have earnings per share of $ 6 $6 this year and expect that they will pay out $ 1.25 $1.25
Hatshy [7]

Answer:

$8.93

Explanation:

The payment made to the stockholders is known as dividend.

Price of the stock can be determined by calculating the present value of all future expected dividends using cost of capital.

In this question $1.25 per share dividend is paid and rate of return / cost of capital is 14%, so price of stock will be calculated as follow.

Price of the share = Dividend / Cost of Capital = $8.93

Price of the share = $1.25 / 14% = $8.93

5 0
3 years ago
Tom tries to sell his classic car to Victoria for $12,000. Tom tells Victoria, "I paid $12,000 for the car in 1978 and it's wort
gulaghasi [49]

Answer:

B) Tom's statements provide grounds to set the contract aside.

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When we are talking about setting a contract aside, it means that the contract is voidable. A voidable contract is valid until one of the parts decides to void it. In this case, if Victoria decides to purchase Tom's car and later discovers that he lied about the price, she can void the contract and return the car to get her money back.

What Tom is doing is basically lying about the material facts of the product that they are bargaining and it represents a valid reason for voiding the contract.

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The answer is false.
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3 years ago
Who are the internal and X ternal users of accounting information
dezoksy [38]

Answer and Explanation:

The internal and the external users or parties of accounting information are as follows

Internal users: These are the users who are belonged from the company i.e. shown below:

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3.Employyes

External users: These are the persons who are outsiders such as

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3 years ago
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