Answer:
B. $0
Explanation:
The International Financial Reporting Standards (IFRS) specifically Internal Accounting Standards (IAS) 18 on revenue specifically states that where there is a barter transaction that is the exchange of goods or services, the transaction will not be recognized as one generating revenue when the goods or the services being exchanged are similar in nature. If it is not recognized as a revenue generating transaction then no revenue will be recognized as well
Since Kelly Corp barters goods with Ace Corporation established to be similar in nature , then according to IFRS Kelly cannot recognize any income on the transaction.
Answer:
Find attached question containing the cash flows under the purchasing option,note that the discount rate in the attached is 7.1% but the main question has 6.9%,hence I would make use of 6.9%
The present value of leasing option is lower,hence it is preferred.
Explanation:
The cash flows under the purchasing option is $39,200 now and $2000 each year for 5 years.
In determining the better of the two options we determine the present value of each option as follows:
leasing option=$10,100/(1+6.9%)^1+$10,100/(1+6.9%)^2+$10,100/(1+6.9%)^3+$10,100/(1+6.9%)^4+$10,100/(1+6.9%)^5=$ 41,523.11
Purchase option=$39,200+$2000/(1+6.9%)^1+$2000/(1+6.9%)^2+$2000/(1+6.9%)^3+$2000/(1+6.9%)^4+$2000/(1+6.9%)^5=$ 47,422.40
Answer:
b. more higher contribution margin units are sold than lower contribution margin units.
Explanation:
Contribution margin is that percentage of sales revenue which is received after deducting the variable cost of the product. This is basically covering fixed cost.
As soon as fixed cost is covered by contributing margin the income starts arising.
Therefore, the company shall sale those which have higher contribution margin, as this will cover fixed cost more fast.
Thus, sales of goods with high contribution margin in a sales mix assures high net income.
The correction is B. Operations .
The ICS functional area establishes tactics and directs all operational resources is operations.
<h3>What is Incident Command System ICS?</h3>
The ICS serves as the gold standard for command, direction, and coordination of an emergency response and offers a way to coordinate the actions of many agencies as they cooperate toward the same objective of stabilizing the situation and defending people, property, and the environment.
Some charateristics of ICS are-
- ICS employs the same elements that have been shown to increase efficiency and productivity in a commercial environment to disaster response.
- Because of the complexity of our environment, it is frequently necessary for multiple organizations to work together in order to respond to emergencies, from small-scale disasters to major traffic accidents.
- You and other members of your agency's staff might be asked to assist with the response in an emergency.
- It is expected that you will work in an ICS environment given the current trend toward employing an ICS framework for emergency response.
- In an emergencies, you could not be functioning for your regular boss or you might be working somewhere else.
- Operations for responding to emergencies are therefore not "business as usual."
To know more about Incident Command System (ICS), here
brainly.com/question/928097
#SPJ4
The complete question is -
Which ICS functional area establishes tactics and directs all operational resources to achieve the incident objectives?
A. Planning
B. Operations
C. Logistics
D. Finance/Administration
Answer:
The fair value of $ 60 comma 000
Explanation:
Although under US GAAP, the basic accounting principle is historical cost principle in which original cost of purchasing assets are used to record most assets, especially fixed assets, despite that there might have been significant rise in their value over time.
However, not all assets are recorded at their historical cost. Financial assets which are intangible such as market securities are recorded in the balance sheet at their fair value. Intangible assets which have impaired are reduced their fair value from the historical cost.
Since investments in equity securities (in Essence Company) by Kyler Shea Productions is an intangible marketable security, the appropriate amount for Kyler Shea Productions to report for these investments on the December 31, 2018 in the balance sheet is fair value of $ 60 comma 000.
