Answer:
Product 1  - $36
Product 2 -  $ 96   
Product 3  -  $66
Explanation:
The accounting standard for Inventory under IFRS IAS 2 requires that inventory be recognized at cost which includes all the cost incurred to bring the item of inventory to a state or place where the item of inventory becomes available for sale.
These costs includes cost of purchase, freight, Insurance cost during transit etc.  
Subsequently, inventory is to be carried at the lower of cost or net realizable value.
The NRV is the Selling price less the cost to sell.
Given
                              Product 1       Product 2        Product 3
Cost                            $36              $ 106              $ 66
Selling price               $ 88              $ 168             $ 118
Costs to sell                $ 9                $ 72              $ 26
NRV                             $ 79               $ 96              $ 92
 
        
             
        
        
        
Answer:
a. 
Date              Account Title                                                   Debit           Credit
Feb. 20         Cash                                                            $174,800
                      Common stock                                                              $144,000
                      Paid-In Cap. in excess of par                                          $30,800
<u>Working</u>
Common stock = 18,000 * 8
= $144,000
Paid-in cap. = 174,800 - 144,000
= $30,800
b. 
Date              Account Title                                                   Debit           Credit
Feb. 20         Cash                                                            $174,800
                      Common stock                                                              $174,800
c. 
Date              Account Title                                                   Debit           Credit
Feb. 20         Cash                                                            $174,800
                      Common stock                                                               $72,000
                      Paid-In Cap. in excess of par                                       $102,000
<u>Working</u>
Common stock = 4 * 18,000 = $72,000
Paid in cap = 174,000 - 72,000 = $102,000
 
        
             
        
        
        
Answer and Explanation:
The journal entries are shown below
On Sept 1
Supplies Dr $1,020
     To Cash $1,020
(being supplies purchased in cash)
On Sept 5
Dividend Dr $410
    To cash $410
(being cash dividend is paid)
On Sept 7
cash Dr 5,500
    To Unearned service revenue  $5,500
(being cash collection is recorded)
On Sept 16
Cash Dr $770
   To Account receivable $770
(being cash collection is recorded)
On Sept 22
Equipment Dr $3,000
          To cash $1,100
          To Note payable $1,900
(being equipment purchased is recorded)
 
        
             
        
        
        
Sometimes when speaking, your thoughts get very jumbled, if you're at all like me. Organizing your thoughts can well, organize your thoughts! :)
        
                    
             
        
        
        
Answer:
a-3 / b-2 / c-4 / d-1
Explanation:
Notes to financial statements: Includes a summary of significant accounting policies and explanations of specific items on the financial statements.
The notes are required by the full disclosure principle. Also referred to as footnotes. Provide additional information pertaining to a company's operations and financial position.
Report of independent registered public accounting firm: Attests to the fairness of the presentation of the financial statements.
is a process designed to provide reasonable assurance regarding the reliability of financial reporting.
Management's discussion and analysis of financial condition and results of operations (MD&A): Is written by the company to help investors understand the results of operations and the financial condition of the company.
Disclosure is mandatory where there is a known trend or uncertainty that is reasonably likely to have a material effect on the registrant's financial condition or results of operations
Financial statements: Includes the income statement, balance sheet, statement of stockholders' equity, and statement of cash flows.
are reports prepared by a company's management to present the financial performance and position at a point in time.