Thhis type of lawsuit is known as a "class-action"
Answer:
The initial cost of manufacturing machine to be capitalized as per International Accounting Standard 16 is $88,500.
Explanation:
IAS-16 states that the initial cost should include the Purchase Price Plus all the costs necessary to bring the asset into working condition. The discount should be deducted. Freight Charges and Installation Costs are directly attributable costs, these costs must be incurred to bring it to working condition. On the other hand, insurance is not required to make machine run so this cost should be written-off to Profit or Loss Statements as soon as incurred.
Purchase Price = 85,000 * .98 = $83,300
Add: Freight Charges = 2,200
Installation Cost = 3,000
Cost To Be Capitalized = $88,500
Thanks!
The correct answer is obviously, You recognized that it exists, i have no idea what they were smoking when they wrote this question.
Answer:
cost of goods available for sale= $4,060
Explanation:
Giving the following information:
Beginning inventory, January 1: 400 $3.00
Purchase, January 30: 300 3.40
Purchase, May 1: 460 4.00
<u>The cost of goods available for sale is the sum of the beginning inventory and the purchases of the period:</u>
<u></u>
cost of goods available for sale= beginning inventory + purchase
cost of goods available for sale= 400*3 + 300*3.4 + 460*4
cost of goods available for sale= $4,060
Answer:
B. Full disclosure principle
Explanation:
Full disclosure principle ensures that all relevant financial information is reported
