The expanded accounting equation under IFRS is as follows: (a) Assets = Liabilities + Common Stock +
Question:
The expanded accounting equation under IFRS is as follows:
Transcribed Image Text:
(a) Assets = Liabilities + Common Stock + Retained Earnings + Dividends + Revenues Expenses. (b) Assets + Liabilities = Common Stock + Retained Earnings - Dividends + Revenues Expenses. Liabilities + Common Stock + Retained Earnings - Dividends + Revenues - (c) Assets = Expenses. Liabilities + Common Stock + Retained Earnings - Dividends - Revenues - (d) Assets = Expenses.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Financial And Managerial Accounting
ISBN: 9781118004234
1st Edition
Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt
Question Posted:
Students also viewed these Business questions
-
MM Ferguson's market value of common stock is $24.6 million, and its risk-free debt is $12.9 million in market value. The beta of the company's common stock is 1.26, and the market risk premium is...
-
The expanded accounting equation under IFRS is as follows: (a) Assets = Liabilities + Common Stock + Retained Earnings + Revenues Expenses + Dividends. (b) Assets + Liabilities = Common Stock +...
-
Bell Ltd is an Indonesian based company that prepares its financial statements using Indonesian GAAP. The companys financial results at 31 December 2020 were as follows: Net profit $1,300,000...
-
Busy plc, an all equity-financed firm, has three strategic business units. The polythene division has capital of 8m and is expected to produce returns of 11 per cent for the next five years....
-
A full journal bearing has a journal diameter of 1.250 in, with a unilateral tolerance of 0.001 in. The bushing bore has a diameter of 1.252 in and a unilateral tolerance of 0.003 in. The bearing is...
-
Describe the circumstances in which a t statistic is used for hypothesis testing instead of a z-score and explain the fundamental difference between a t statistic and a z-score for a sample mean.
-
Indicate the basis you would adopt for apportionment of the following items of overhead expenses to different departments: (a) Factory rent (b) Factory lighting (c) Power (d) Depreciation of plant...
-
Calculating Annuity Cash Flows If you put up $28,000 today in exchange for a 8.25 percent, 15- year annuity, what will the annual cash flow be?
-
Cap Incorporated manufactures ball point pens that sell at wholesale for $0.80 per unit. Budgeted production in both 2021 and 2022 was 9,500 units. There was no beginning inventory in 2021. The...
-
The ledger of Hammond, Inc., on March 31, 2014, includes these selected accounts before adjusting entries are prepared. An analysis of the accounts shows the following. 1. Insurance expires at the...
-
The trial balance of Clooney Corporation had accounts with the following normal balances: Cash $5,000, Service Revenue $85,000, Salaries and Wages Payable $4,000, Salaries and Wages Expense $40,000,...
-
For more than three decades, accounting professionals, accounting educators, and accounting bodies have debated requiring more education for those entering the public accounting profession. In 1988,...
-
Solve xy' - 2y = x.
-
Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $15. At the start of January 2021, VGC's income statement accounts had zero...
-
Financial data, medical service data, and staffing data are best defined as what type of data
-
. What is meant by the term "foreign exchange rate"? In general, what causes foreign exchange rates to vary over time? . Do changes in foreign exchange rates benefit or hurt U.S. companies that are...
-
Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials used in production Direct labor Manufacturing...
-
Railroad curve with T = 155.00 ft, DC = 235(, and PI station = 48 + 10.00 ft. Tabulate R or D, T, L, E, M, PC, PT, deflection angles, and incremental chords to lay out the circular curves at full...
-
7. Baladna wants to analyze process that includes delivery by suppliers, production inside the company, transportation to to its customers and information systems. Then it also wants to find out...
-
The Commercial division of Morse Company has income from operations of $160,000 and assets of $700,000. The minimum acceptable rate of return on assets is 9%. What is the residual income for the...
-
The materials used by the Vancouver Division of Roberts Company arc currently purchased from outside suppliers at $45 per unit. These same materials are produced by Roberts Tucson Division. The...
-
The materials used by the Burlington Division of Wilson Company are currently purchased from outside suppliers a $100 per unit. These same materials are produced by the Racine Division. The Racine...
-
Equipment with a book value of $84,000 and an original cost of $166,000 was sold at a loss of $36,000. Paid $100,000 cash for a new truck. Sold land costing $330,000 for $415,000 cash, yielding a...
-
The following is part of the computer output from a regression of monthly returns on Waterworks stock against the S&P 5 0 0 index. A hedge fund manager believes that Waterworks is underpriced, with...
-
Doisneau 25-year bonds have an annual coupon interest of 8 percent, make interest payments on a semiannual basis, and have a $1,000 par value. If the bonds are trading with a market's required yield...
Study smarter with the SolutionInn App