Answer:
Shareholders for dividends $93,000 (debit)
Cash $93,000 (credit)
Explanation:
Autumnâ Services, Inc holds a 12 % voting stock in Springâ Metals therefore it does not have control in terms of IFRS 10 and no consolidated statements must be produced.
The Acquisition of shares is thus a Financial Asset for Autumnâ Services, Inc.
February 15, 2019
<em>When dividend is declared, recognize an equity item and a Liability in Spring Metals</em>
Dividend $93,000 (debit)
Shareholders for dividends $93,000 (credit)
Dividend = 124,000×$ 0.75 per share
= $93,000
March 2, 2019
<em>De-recognise the liability and de-recognise the cash asset in Spring Metals</em>
Shareholders for dividends $93,000 (debit)
Cash $93,000 (credit)
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Answer:
-33%
Explanation:
240 / (.08-.06) = 12,000 million
240 / (.09-.06) = 8,000 million
8,000 - 12000 over 12,000= -33.33%
Answer:
$60,000 income tax benefit
Explanation:
Since Crimson Corp. had a loss from operations and sold the asset for a loss we know that they lost money with the asset and an income tax benefit was generated. To calculate the income tax benefit we need to add both losses: $40,000 (operation) + $160,000 (sale) = $200,000 in total losses.
$200,000 x 30% = $60,000 income tax benefit
Answer:
a set of three hierarchical models used to classify learning objectives into levels of complexity and specificity