Questions from Intermediate Accounting

Q: Access the annual report for Air Canada for its December 31,

Access the annual report for Air Canada for its December 31, 2017 fiscal year end from SEDAR or the company's website (www.aircanada.com). Also, access the annual report for the year ended December 31...

Q: Brookfield Asset Management Inc. Access the financial statements and accompanying notes

Brookfield Asset Management Inc. Access the financial statements and accompanying notes of Brookfield Asset Management Inc. for the year ended December 31, 2017, through SEDAR (www.sedar.com) or on th...

Q: Newfoundland University recently signed a contract with the bargaining unit that represents

Newfoundland University recently signed a contract with the bargaining unit that represents full-time professors. The contract agreement starts on April 1, 2019, the start of the university's fiscal y...

Q: Brooks Inc. sells portable computer equipment with a two-year

Brooks Inc. sells portable computer equipment with a two-year warranty contract that requires the corporation to replace defective parts and provide the necessary repair labour. During 2020, the corpo...

Q: Smythe Corporation sells televisions at an average price of $850 and

Smythe Corporation sells televisions at an average price of $850 and they come with a standard one-year warranty. Ignore any cost of goods sold. Smythe also offers each customer a separate three-year...

Q: Renew Energy Ltd. (REL) manufactures and sells directly to

Renew Energy Ltd. (REL) manufactures and sells directly to customers a special long-lasting rechargeable battery for use in digital electronic equipment. Each battery sold comes with a guarantee that...

Q: The Hwang Candy Corporation (HCC) offers a mini piggy bank

The Hwang Candy Corporation (HCC) offers a mini piggy bank as a premium for every five chocolate bar wrappers that customers send in along with $2.00. The chocolate bars are sold by HCC to distributor...

Q: Dungannon Enterprises Ltd. sells a specialty part that is used in

Dungannon Enterprises Ltd. sells a specialty part that is used in widescreen televisions and provides the ultimate in screen clarity. To promote sales of its product, Dungannon launched a program with...

Q: Eloisa Corporation applies IFRS. Information about Eloisa Corporation's income before income

Eloisa Corporation applies IFRS. Information about Eloisa Corporation's income before income tax of $633,000 for its year ended December 31, 2020, includes the following: 1. CCA reported on the 2020...

Q: The following information is available for HTM Corporation's defined benefit pension plan

The following information is available for HTM Corporation's defined benefit pension plan: On January 1, 2020, HTM Corp. amended its pension plan, resulting in past service costs with a present value...