Using the data from BE6-18, assume that Pennfield cannot reliably measure the outcome of the contract. Explain
Question:
(a) if Pennfield Construction Corp. is reporting under current IFRS (IAS 11 and 18).
(b) if Pennfield Construction Corp. is reporting under ASPE.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (10 reviews)
a If Pennfield is reporting under IFRS If the outcome cannot be reliably ...View the full answer
Answered By
Rafia Arshad
i have great experience in the field of writing the articles, analysis, reviews, term papers and paraphrasing. i also have experience in the chemistry and i can handle every type of organic chemistry queries. as well as i also have great knowledge in the field of mathematics as i have concerned with this field for a long time. i have great experience in the field of article writing as i have written various literature reviews and business article as well as reports for every field.i have connected to the university as a professor of mathematics as its my passion. b.s honors in chemistry and master in mathematics.
0.00
0 Reviews
10+ Question Solved
Related Book For
Intermediate Accounting
ISBN: 978-0176509736
10th Canadian Edition, Volume 1
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
Question Posted:
Students also viewed these Accounting questions
-
Explain the rights and obligations created in the following transactions. (a) A manufacturer sells goods with terms FOB shipping point. (b) A manufacturer sells goods with terms FOB destination...
-
Rancourt Corp. is a real estate company. Approximately 50% of sales are properties that Rancourt owns. In the remaining 50%, Rancourt brokers the transactions by finding buyers for property owned by...
-
Mackenzie Construction Services Ltd. has entered into a contract to construct an office building for Designers Corporation. Mackenzie prepares financial statements in accordance with IFRS. Explain...
-
Explain what you would assume the yield curve would look like during economic expansion and why.
-
Rogers and Prentice-Dunn (1981) had 96 white male undergraduates deliver shocks to their fellow subjects as part of a biofeedback study. They recorded the amount of shock that the subjects delivered...
-
How does accounting under a just-in-time em iromnent provide less transaction control? AppendixLO1
-
Consider Managerial Practice 10.1 and the scheduling of Major League Baseball umpires. Relate the three levels in Figure 10.2 to the seasonal production of baseball games.
-
A circular loop of wire can be used as a radio antenna. If a 18.0-cm-diameter antenna is located 2.50 km from a 95.0-MHz source with a total power of 55.0 kW, what is the maximum emf induced in the...
-
Bridge Cottage Ltd has the following budgeted data for next year: Production Dept A Production Dept B 5,000 Overhead cost Direct Material cost Direct Labour cost Machine hours Direct Labour hrs Units...
-
Liberty Products, Inc., is considering a new product launch. The firm expects to have annual operating cash flow of $4.9 million for the next eight years. The company uses a discount rate of 11...
-
Pennfield Construction Corp. began work on a $5,020,000 construction contract in 2014. During 2014, the company incurred costs of $1,600,000, billed its customer for $ 1,750,000, and collected...
-
Tampa Inc. began work on an $11.5-million contract in 2014 to construct an office building. During 2014, Tampa Inc. incurred costs of $3.3 million, billed its customers for $5.1 million, and...
-
(a) Company A has been offered the swap quotes in Table 7.3. It can borrow for three years at 3.45%. What floating rate can it swap this fixed rate into? (b) Company B has also been offered the swap...
-
a) Provide a brief background of the Honda Motor company and industry, then identify a current ethical issue that has an effect on the industry that the Honda Motor company is operating in. 1b)...
-
If you own, did you consider leasing? If yes, why did you choose a purchase over a lease? If you lease, why did you go with a lease? List the specific advantages you feel you gained by leasing. If...
-
If 5 people worked in a process for 8 hours, which included a 0.5 hour break, and they produced 900 units. What was the worker hours per unit? from below: 2.7 minutes 24 minutes 2.5 minutes 22.5...
-
12. Access the following PIDS using the scan tool and verify current input signal status and record the status below? PIDS APP1 APP2 ECT IAT MAF RPM TP1 TP2 VSS Signal Status WSM Specifications
-
With Twitter being on the verge of bankruptcy and undergoing mass resignation, what are some creative and relative directions managers of the social media platform could take to improve the brand?
-
A fictional subatomic particle, the solarino, is initially at rest. It then explodes into three particles: two lightons and a heavyon. The inertia of a heavyon is twice the inertia of a lighton. In...
-
In your readings, there were many examples given for nurturing close family relationships in this ever-evolving technological society we live in Based upon your readings and research describe three...
-
Give explanations for the high profits that investment banks make.
-
How does separating current assets from property, plant, and equipment in the balance sheet help analysts?
-
Should available-for-sale securities always be reported as a current asset? Explain.
-
Should available-for-sale securities always be reported as a current asset? Explain.
-
Questien It Calraluta bae neark yoe cen atforal to berren
-
In calculating the net present value of a proposed project, the cash flows of the project should include a.) amortization of goodwill b.) interest expenses paid to bondholders c.) extra working...
-
If Yolanda's insurance company cancels her fire insurance policy after 204 days, how much of the $682.00 annual premium will she receive as a refund (in $)? (Round you answer to the nearest cent.) $
Study smarter with the SolutionInn App