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Dmitriy789 [7]
3 years ago
15

Under U.S. GAAP, property, plant, and equipment is reported at ______ value; under IFRS, property, plant, and equipment is repor

ted at _____ value.
Business
1 answer:
Bezzdna [24]3 years ago
8 0

Answer: Book; Fair

Explanation:

Under U.S. GAAP, property, plant, and equipment is reported at book value; under IFRS, property, plant, and equipment is reported at fair value.

An asset's book value is simply equal to the carrying value of the asset on the balance sheet. It should be noted that the book value is calculated when the asset is put against the accumulated depreciation.

The fair value has to do with the estimation of several assets and liabilities which are listed on an organization's books.

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Peace Company began the accounting period with a $14,000 debit balance in its accounts receivable account. During the accounting
Mrac [35]

Answer:

$50,000

Explanation:

Based on this information, the cash collected from accounts receivable during the period is $50,000. This can be calculated in the following way. Since the Company started the period with a $14,000 debit balance and ended that period with only $8,000 it means that $6,000 was used. Since it was used, it means that it was deducted from the actual collected total. Therefore to find this total we add these $6,000 to the revenue for that period which was $44,000. This totals up to $50,000.

3 0
3 years ago
How is mutual accountability fostered? Select all that apply.
Gnesinka [82]

Answer:

The correct answer is letter "A": Team members share accountability for the work.

Explanation:

While talking about team formations, mutual accountability refers to the relationship that borns inside a group based on <em>trust </em>and <em>commitment </em>which makes them become a team. Accountability allows team members to give their opinions on the activities that hold them together which is likely to increase their engagement with the performance and collective results of the team.

3 0
3 years ago
Pinnacle Corp. budgeted $700,000 of overhead cost for the current year. Actual overhead costs for the year were $650,000. Pinnac
juin [17]

Answer:

The correct answer is C.

Explanation:

Giving the following information:

Pinnacle Corp. budgeted $700,000 of overhead costs for the current year.

Pinnacle's plantwide allocation base, machine hours, was budgeted at 100,000 hours.

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 700,000/100,000= $7 per machine-hour.

6 0
3 years ago
Read 2 more answers
Which company sold for the highest cash equivalent value?
Anika [276]

Answer:

Company B (transaction d)

Explanation:

present value of transaction a (company D) = $1,100,000 / 1.08 = $1,018,519

present value of transaction b (company C) = $45,000 x 21.21211 (PV annuity factor, 2.4%, 30 periods) = $954,545

present value of transaction c (company A) = $1,000,000

present value of transaction d (company B)  = $100,000 x 10.52141 (PV annuity factor, 4.8%, 150 periods) = $1,052,141

6 0
3 years ago
Sharon is upset with her secretary. Though everyone in the office agreed not to give Christmas presents this year, Sharon's secr
aliya0001 [1]

Answer:

C,)The reciprocity norm

Explanation:

From the question, we are informed about Sharon who is upset with her secretary. Though everyone in the office agreed not to give Christmas presents this year, Sharon's secretary gave her an expensive bottle of perfume. In this case, the best yet that identifies the source of Sharon's feelings is reciprocity norm.

Reciprocity norm can be regarded as rule of human interaction which stressed that action of a person needs to be reciprocated by another people. In simple term, reciprocity norm explain that when a particular person is been given a gift by another, the gift must be related by the person, this gift could take different number of forms. Reciprocity can be explained better as ways and how particular positive actions generate more positive actions, in the same way that negative actions generate or give room for more negative actions

4 0
3 years ago
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