Frequent use of various emphasis techniques helps a reader focus on significant content
Indicate whether the statement is true or false
FALSEInstructor's Note:"Frequent use of various" will tend to distract rather than focus the reader.
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Investments in trading securities:
A. Are reported as current assets. B. Include only equity securities. C. Are reported at their cost, no matter what their market value. D. Include both debt and equity securities. E. Are long-term investments.
D&I Supplies, Inc selected cost data for the year are shown below
Work-in-Process Inventory, Jan. 1 $5,920 Direct Materials Used 101,000 Work-in-Process Inventory, Dec. 31 2,860 Cost of Goods Manufactured 193,100 Assuming manufacturing overhead costs of $27,800, what is the amount of direct labor incurred by D&I Supplies, Inc during the year? A) $64,300 B) $190,040 C) $61,240 D) $128,800
A classic and important example of strict scrutiny of classifications based upon race is the desegregation case of:
A) Board of Curators of the University of Missouri v. Horowitz. B) Silkwood v. Kerr-McGee Corporation. C) New York Times v. Sullivan. D) Brown v. Board of Education of Topeka.
X Company Purchases a (100%) controlling interest in Y Company by issuing $2,000,000 worth of common shares. An agreement was drawn whereby X Company would pay 10% of any earnings in excess of $750,000 to Y's shareholders in the first year following the acquisition. On that date, X's shares had a market value of $80 per share.
Required: a) Assuming that Y's net income was $950,000, prepare any journal entries (for company X) that you feel may be necessary to reflect Y's results under IFRS 3 Business Combinations. Assume that on the acquisition date no provision was made for the contingent consideration. b) Assuming that the agreement called for Y's shareholders to be compensated for any decline in X's share price, what journal entries would be required under IFRS 3, if the market value of X's shares dropped to $64?