Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 07, 2024

TPP Ltd completely damaged its car worth $50,000 in an accident on 23/03/2020, the car was destroyed and was not insured. Required Briefly explain using

TPP Ltd completely damaged its car worth $50,000 in an accident on 23/03/2020, the car was destroyed and was not insured.

Required

Briefly explain using the measurement and recognition criteria given in the conceptual framework to account for this event.

(no Accounting entries are require

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Gleim CIA Review Part 2 Practice Of Internal Auditing

Authors: Irvin N. Gleim

2020 Edition

1618542648, 978-1618542649

More Books

Students also viewed these Accounting questions

Question

★★★★★

In a contract drawn up by Booke Company, it agreed to sell and Yermack Contracting Company agreed to buy wood shingles at $6.50. After the shingles were delivered and used, Booke Company billed...

Answered: 1 week ago

Question

★★★★★

The adjusted trial balance for PI Detectives reported the following account balances: Accounts Receivable $ 500; Supplies $ 9,000; Prepaid Insurance $ 7,200; Equipment $ 28,000; Accumulated...

Answered: 1 week ago

Question

★★★★★

=+7.9. Suppose that W. = 1, so that F. = F. + S ,. Suppose that p2 q and is a stopping time such that 1 + n with probability 1. Show that E[F,] E[F ,, ], with equality in case p = q. Interpret this...

Answered: 1 week ago

Question

★★★★★

Figure is an idealized schematic drawing of a rail gun. Projectile P sits between two wide rails of circular cross section; a source of current sends current through the rails and through the...

Answered: 1 week ago

Question

★★★★★

Generative Al Refresher _ E 0 GenAl Refresher E 0 i Sections Question No . 1 9 What is one way large language models can help in daily life? Improving writing style Helping in writing in blogs...

Answered: 1 week ago

Question

★★★★★

23 101-102 201 - University Question 15 (2 points) Listen Prostitution is classified as a "victimless" crime. What other wrongs may result from the conduct? Question 16 (2 points) Listen Legal...

Answered: 1 week ago

Question

★★★★★

Show all work, equations, and steps Chapter 2 Problem 14 a. For the years 2005 -2009, calculate Boeing's i. Total liabilities-to-equity ratio ii. Times interest earned ratio iii. Times burden covered...

Answered: 1 week ago

Question

★★★★★

You are managing an agile project where all team members work virtually. An important issue just came up, and you want everyone to discuss it. What can you do to get everyone's inputs and gauge their...

Answered: 1 week ago

Question

★★★★★

1.1. Focus for Professional Development ( High-leverage Topic. What topic can be addressed effectively, implemented quickly, and would yield the most impact on equitable student learning?) Citations...

Answered: 1 week ago

Question

★★★★★

Revenue for an electronic writing tablet is modeled by R(x)=0.10x2+3x , where x is the number of units sold. When 500 units are sold, revenue is $26,500. When 800 units are sold, revenue is $66,400....

Answered: 1 week ago

Question

★★★★★

A newly discovered element, "Examinium", has a half life of T1/2 = 15.0 hours. of a) If a student has a total of 3.60 x 10 atoms of Examinium, how many will remain after 111 hours? Remaining Atoms =...

Answered: 1 week ago

Question

★★★★★

Teamwork. Picture yourself as the author of the Ask Andy column in your school paper. You receive a letter that says, My boss is always suggesting ways for me to do my job better.When I mentioned...

Answered: 1 week ago

Question

★★★★★

Teamwork. Virtual teams are growing as an organizational phenomenon, and web-assisted technologies are being used to facilitate their work.Research several businesses in your city to see whether they...

Answered: 1 week ago

Question

★★★★★

For each of the following situations, give a verbal and nonverbal example of a passive reponse, an aggressive response, and an assertive response. (Objective 2) a. You bought a new gas grill at the...

Answered: 1 week ago

Previous Question Next Question