Questions from Intermediate Accounting


Q: L'Oreal is the world's largest cosmetic company, with brands such as

L'Oreal is the world's largest cosmetic company, with brands such as its own name, Redken, Mayhelline, Lancome, and Ralph Lauren, just to name a few. Instructions Access L'Oreal’s annual financial...

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Q: The following information is available about Kao Corp.'s investments at

The following information is available about Kao Corp.'s investments at December 31, 2014. This is the first year Kao has purchased securities for investment purposes. Assume that Kao Corp. follows I...

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Q: Arantxa Corporation made the following purchases of investments during 2014, the

Arantxa Corporation made the following purchases of investments during 2014, the first year in which Arantxa invested in equity securities: 1. On January 15, purchased 9,000 shares of Nirmala Corp.'s...

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Q: At December 31, 2014, the equity investments of Wang Inc

At December 31, 2014, the equity investments of Wang Inc. that were accounted for using the fair value through other comprehensive income model without recycling (application of IFRS 9) were as follow...

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Q: Niger Corp. provided you with the following information about its investment

Niger Corp. provided you with the following information about its investment in Fahad Corp. shares purchased in May 2014 and accounted for using the FV-OCI method: Cost………………………………………………………………………………....

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Q: In early 2014, for the first time, HTSM Corp.

In early 2014, for the first time, HTSM Corp. invested in the common shares of another Canadian company. It acquired 5,000 shares of Toronto Stock Exchange-traded Bayscape Ltd. at a cost of $68,750. B...

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Q: On January 1, 2012, Mamood Ltd. paid $322

On January 1, 2012, Mamood Ltd. paid $322,744.44 for 12% bonds of Variation Ltd. with a maturity value of$300,000. The bonds provide the bondholders with a 10% yield. They are dated January 1, 2012, m...

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Q: The management of Luis Inc., a small private company that uses

The management of Luis Inc., a small private company that uses the cost recovery impairment model, was discussing whether certain equipment should be written down as a charge to current operations bec...

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Q: Weekly Corp., a December 31 year-end company that applies

Weekly Corp., a December 31 year-end company that applies IFRS, acquired an investment in 1,000 shares of Credence Corp. in mid-2010 for $29,850. Between significant volatility in the markets and in t...

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Q: Holmes, Inc. purchased 30% of Nadal Corporation's 30,

Holmes, Inc. purchased 30% of Nadal Corporation's 30,000 outstanding common shares at a cost of515 per share on January 3, 2014. The purchase price of515 per share was based solely on the book value o...

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