Question

Items of value owned by the company for the purpose of resale are known as

Items of value owned by the company for the purpose of resale are known as

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

It should be classified as Assets Held for Sale.

Non-Current Assets Held for Sale are not depreciated, are measured at the lower of carrying amount and fair value less costs to sell, and are presented separately in the statement of financial position.

Specific disclosures are also required for disposals of non-current assets.

Dear Student,

Best effort has been made to give quality and correct answer. But if you find any issues please comment your concern. I will definitely resolve your query.

Also please give your positive rating.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
(8) 7. The resale value R (in dollars) of a company van after t years is...
(8) 7. The resale value R (in dollars) of a company van after t years is estimated to be given by r(t) = 2780 (4.5 + 12 e ^ -.18t)    What is the resale value of the van after 3½ years? What is the rate of change of the resale value of the van after 3½ years?
Many economists argue that resale price maintenance A)   has a legitimate purpose of stopping discount retailers...
Many economists argue that resale price maintenance A)   has a legitimate purpose of stopping discount retailers from free riding on the services provided by full service retailers. B)   is price fixing and, therefore, is prohibited by law. C)   is price fixing and, therefore, is prohibited by law and enhances the market power of the producer. D)   enhances the market power of the producer.
A new machine will cost $21,000 and will have a resale value of $12,000 after five...
A new machine will cost $21,000 and will have a resale value of $12,000 after five years. Special tooling will cost $6,000 and will have a resale value of $1,500 after five years. Maintenance will be $2,000 per year. If the effective annual interest rate is 6%, then what is the average annual cost of ownership during the five year period?
Suppose that it is known that the number of items produced in a factory during a...
Suppose that it is known that the number of items produced in a factory during a week is a random variable with mean 50. If the variance of a weekâs production is known to equal 26, then what can be said about the probability that this weekâs production will be between 40 and 60?
Pick a company that interests you. Discuss two items that are important to the value of...
Pick a company that interests you. Discuss two items that are important to the value of this company but are not recorded in its balance sheet. In our personal lives and example would be our education. Education feels like an asset because it is something that has future value but it would not record as an asset in our personal statement of net worth. What are some reasons why your chosen items are not recorded in the balance sheet?
For a newly setup classroom, a projector system is purchased for $10,000. The resale value is...
For a newly setup classroom, a projector system is purchased for $10,000. The resale value is estimated to be $1,000 at the end of 5 years useful life of the system. Calculate the depreciation charge for the third year and fourth year by applying the 'Double Declining Meth Method'.
A student researcher compares the ages of cars owned by students and cars owned by faculty...
A student researcher compares the ages of cars owned by students and cars owned by faculty at a local state college. A sample of 224 cars owned by students had an average age of 5.06 years. A sample of 233 cars owned by faculty had an average age of 7.19 years. Assume the standard deviation is known to be 3.42 years for age of cars owned by students and 2.81 years for age of cars owned by faculty. Determine the...
1. It is known from past experience, that 10%(0.10) of the items produced by a machine...
1. It is known from past experience, that 10%(0.10) of the items produced by a machine are defective. In a new study, a random sample of 75 items will be selected and checked for defects. A. What is the Mean (expected value), Standard Deviation, and Shape of the sampling distribution of the sample proportion for this study? B. What is the probability that the sample proportion of defects is more than 13%(0.13)? C. What is the probability that the sample...
human and techology The application of scientifc known for pratical purpose is known as _______ There...
human and techology The application of scientifc known for pratical purpose is known as _______ There are pros and cons to this field. For exmples, through this field, scienists have been able to find successful treatments for________ that prologong the quantlty of life for those afficted with the deadly disease However, scientists may one day be able to _____ humans, which is is controversial subject and may cause problems. scientists have be able to create _____ crops grow in area...
A truck can be purchased for $150 000 and is expected to have a resale value...
A truck can be purchased for $150 000 and is expected to have a resale value of $40 000 at the end of 5 years. The truck is expected to generate cash inflows of $80 000 per annum over the 5 years and its operating costs are expected to be $30 000 per annum. If the required rate of return is 15 per cent, what is the NPV of the truck?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT