中級(jí)財(cái)務(wù)會(huì)計(jì)書籍(編輯修改稿)
2024-08-28 18:30 本頁面
【文章內(nèi)容簡介】 s?a.$550,000b.$900,000c.$200,000d.$500,00023. During Year 2, Orca Corp. decided to change from the FIFO method of inventory valuation to the weightedaverage method. Inventory balances under each method were as follows:FIFOWeightedaverageJanuary 1, Year 2$71,000$77,000December 31, Year 279,00083,000Orca39。s ine tax rate is 30%.Orca should report the cumulative effect of this accounting change as a(n):a.Adjustment to beginning retained earnings.b.Component of ine from continuing operations.c.Extraordinary item.d.Component of ine after extraordinary items.24. On October 1, Year 1, Wand, Inc. mitted itself to a formal plan to sell its Kam division39。s assets early in Year 2. On that date, Wand estimated that the fair value of the ponent39。s assets was $25,000 less than the carrying value. Wand also estimated that Kam would incur operating losses of $100,000 for the period of October 1, Year 1 through December 31, Year 1 and $50,000 for the period January 1, Year 2 through February 28, Year 2. All estimates proved to be materially correct. Disregarding ine taxes, what should Wand report as loss from discontinued operations in its parative Year 1 and Year 2 ine statements?Year 1Year 2a.$125,000$50,000b.$0$175,000c.$100,000$75,000d.$175,000$025. Under . GAAP, a transaction that is unusual in nature and infrequent in occurrence should be reported separately as a ponent of ine:a.After discontinued operations of a segment of a business.b.Before cumulative effect of accounting changes and before discontinued operations of a segment of a business.c.After cumulative effect of accounting changes and before discontinued operations of a segment of a business.d.After cumulative effect of accounting changes and after discontinued operations of a segment of a business.26. Rock Co.39。s . GAAP financial statements had the following balances at December 31:Extraordinary gain$50,000Foreign currency translation gain, net of tax100,000Net ine400,000Unrealized gain on availableforsale equity securities, net of tax20,000What amount should Rock report as prehensive ine for the year ended December 31?a.$520,000b.$420,000c.$570,000d.$400,00027. Which of the following items isnotclassified as other prehensive ine?a.Extraordinary gains from extinguishment of debt.b.Unrealized gains for the year on availableforsale marketable securities.c.Foreign currency translation adjustments.d.Minimum pension liability equity adjustment for a definedbenefit pension plan.28. A pany that uses IFRS reports the following information as of December 31:Pension gain$175,000Foreign currency translation loss120,000Revaluation surplus from revaluation of fixed assets50,000Unrealized gain on availableforsale security32,000Unrealized loss on trading security20,000Revaluation loss from revaluation of intangible assets18,000What amount should the pany report as other prehensive ine as of December 31?a.$55,000b.$137,000c.$99,000d.$17,00029. Which of the following is included in other prehensive ine?a.Foreign currency translation adjustments.b.The difference between the accumulated benefit obligation and the fair value of pension plan assets.c.Unrealized holding gains and losses on trading securities.d.Unrealized holding gains and losses that result from a debt security being transferred into the heldtomaturity category from the availableforsale category.30. Which of the following is true regarding the presentation of prehensive ine.Must be shown onthe face of theine statementRelated tax effectsfor ponentsmust be discloseda.YesNob.NoYesc.NoNod.YesYes31. What is the purpose of reporting prehensive ine?a.To provide a consolidation of the ine of the firm39。s segments.b.To provide information for each segment of the business.c.To reconcile the difference between net ine and cash flows provided from operating activities.d.To summarize all changes in equity from nonowner sources.32. Which of the following is a ponent of other prehensive ine?a.Minimum accrual of vacation pay.b.Cumulative currencytranslation adjustments.c.Unrealized gain or loss on trading securities.d.Changes in market value of inventory.33. Riggs, Co. adopted IFRS two years ago and wants to report the following
畢業(yè)設(shè)計(jì)相關(guān)推薦
鄂ICP備17016276號(hào)-1