题目内容

At the beginning of last year, Riso Company purchased a production line for $80,000 for making toys, which are their star products. According to previous experience, Riso Company estimated that the production line was able to produce a maximum of 500,000 toys and that the production line could be used for eight years with no residual value. At the end of last year, the company actually produced 30,000 toys. Assume Riso Company uses units-of-production depreciation method to measure its fixed assets, the depreciation expense for the line in the last year was:

A. $4,800.
B. $8,000.
C. $16,000.

查看答案

搜索结果不匹配？点我反馈

更多问题

According to the following data, how many shares of common stock should be used to calculate diluted EPS？ * Net income of $1,500,000, tax rate of 35%. * 1,000,000 shares of common are outstanding at the beginning of the year. * 10,000，5% convertible bonds with each bond convertible into 10 shares of common stock were issued at par ($100) on June 30 th of last year. * The firm has 100,000 warrants outstanding all year with an exercise price of $25 per share. * The average stock price for the period is $50.

A. 1,150,000
B. 1,100,000
C. 1,650,000

查看答案

According to U.S. GAAP, if a firm can reliably estimate the total revenue and total cost of a long-term contract, which of the following revenue recognition methods should be used？

A. Completed contract metho
B. Percentage-of-completion metho
Cost recovery metho

查看答案

Regarding the impairment under IFRS and US GAAP, which of the following statements is accurate？

A long-lived asset reclassified as held for sale from held for use need not do the impairment test when reclassified.
B. Under US GAAP, assessing recoverability of a long-lived asset is separate from calculating the impairment loss.
C. Under US IFRS, the loss can be reversed if the value of the impaired asset recovers in the future with no limitation.

查看答案

Which of the following statement is most likely incorrect？

A. Under the LIFO inventory valuation method, COGS reflects the costs of the most recent purchases.
B. In a decreasing price environment, the FIFO inventory cost method results in lower gross profit compared to LIFO.
C. Both LIFO and FIFO inventory method are allowed under both IFRS and U.S. GAAP.

查看答案

A. $4,800. B. $8,000. C. $16,000.

According to U.S. GAAP, if a firm can reliably estimate the total revenue and total cost of a long-term contract, which of the following revenue recognition methods should be used？

Regarding the impairment under IFRS and US GAAP, which of the following statements is accurate？

Which of the following statement is most likely incorrect？

A. $4,800.
B. $8,000.
C. $16,000.