Answer:
Correct option is D
Explanation:
Provided Information,
There is a permanent fund with historical cost of $300,000.
Since the nature of fund is permanent and not a current fund which needs to be shown at current fair market value.
In case of long term assets and funds they are shown at historical cost, as there change in price is not reflected in balance sheet.
As the change might happen with increase or decrease, until the change is permanent the fund is shown at historical cost.
Therefore in the given case the increase in fair value from $300,000 to $360,000, will not be reflected in balance sheet.
Correct option is d)
No entry will be done to recognize any increase or decrease in fair value of such funds.
Explanation:
the different types of professions related to financial sector are auditor accountant CA bank manager
Answer:
1. b. $120,000
2. a. $62,000
3. a. $58,000
Explanation:
1. Since the Subsidiary has <u>sold the entire inventory to an unaffiliated company</u> on November 21, 20X8, Then the sales to the group will be the amount at which a third party has bought it which is $120,000
2. Since the Parent had produced the inventory which has now been entirely sold out of the group, for $62,000. then the cost of goods sold to the group is the amount at which the parent produced it.
When the group is being consolidated all inter-company profits and transfer costs are eliminated and ignored to get the true picture of the transactions at arms length.
3. The consolidated amount of net income will be the amount at which the group bought it less the amount at which they sold it which is $120,000 - $62,000 = $58,000
Answer:
GEOTHERMAL AND TIDAL ENERGY
Explanation:
