13) Elton Industries, a company who uses IFRS reporting standards, has asset and liabilities of a disposal group classified as held-for-sale shown on its statement of financial position. Which of the following presents the best treatment for these?
14) Woodson Company, a company who uses IFRS reporting standards, has identified a group of plant assets for disposal. On January 1, 2014, the carrying value of these assets was $ 14.5 million. The assets were revalued to $ 13.5 million on January 5, 2014, when they were identified as property for the disposal group. In addition, Woodson thinks that it will cost $ 1.5 million to sell these assets. What carrying amount should these assets reflect for year-end financial statements to be prepared on January 10, 2014?
======================================= ACC 304 Week 4 Chapter 10 Quiz( All Possible Questions) For more course tutorials visit www. tutorialrank. com
Week 4 Quiz 3: Chapter 10
ACQUISITION AND DISPOSITION OF PROPERTY, PLANT, AND EQUIPMENT
IFRS questions are available at the end of this chapter.
13) Elton Industries, a company who uses IFRS reporting standards, has asset and liabilities of a disposal group classified as held-for-sale shown on its statement of financial position. Which of the following presents the best treatment for these?
14) Woodson Company, a company who uses IFRS reporting standards, has identified a group of plant assets for disposal. On January 1, 2014, the carrying value of these assets was $ 14.5 million. The assets were revalued to $ 13.5 million on January 5, 2014, when they were identified as property for the disposal group. In addition, Woodson thinks that it will cost $ 1.5 million to sell these assets. What carrying amount should these assets reflect for year-end financial statements to be prepared on January 10, 2014?
======================================= ACC 304 Week 4 Chapter 10 Quiz( All Possible Questions) For more course tutorials visit www. tutorialrank. com
Week 4 Quiz 3: Chapter 10
ACQUISITION AND DISPOSITION OF PROPERTY, PLANT, AND EQUIPMENT
IFRS questions are available at the end of this chapter.