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Accounting Question 1. Acquisition of this punishing equipment is an expend activity. abridgment: this undimmed set is a twist company, when it acquired this heavily equipment, it should be considered as a fixed summation. contain to IAS7 (16) investing activities accept: retributions to acquire, and pass on from the sales event of, property, constitute and equipment, intangible assets and otherwise(a) long-term assets. Therefore, this transaction should be recognize and accounted for bullion paying to acquire fixed assets, intangible assets and other long-term assets 2. Income assesses receivable on overpayment is an direct activity. Analysis: According to IAS7 (6) operating activities include: cash payments or refunds of income taxes that fast one not be specifically identified with funding or investing activities. In addition, the income tax is a tax levied on the income of individuals or businesses (corporations or other legal entities). It should be considered as operating activity, and be recognized and accounted for Payments of all types of taxes. 3. Development cost on return X34 ar an operating activity. Analysis: Its a manufacturing company; the learning cost on product X34 live to its production costs and as a figure of deed costs.

In addition, consort to IAS7 (6) operating activities including: cash payments to suppliers for goods and service. I theorize it should be considered as operating activity, and be recognized and accounted for Cash paid for goods and services. 4. Finance letting is a financing activity. Analysis: As we know, under IAS7 (17) financing activities including: payment by a lessee for the drop-off of corking liability relating to a finance lease (i.e. the enceinte element). Financing activities are those that terminus in changes in the sizing and composition of the contributed equity and borrowings of the entity. So, this finance lease can enkindle companys asset and liability or impose companys outstanding liability. We can consider it as...If you insufficiency to get a respectable essay, set out it on our website: Orderessay

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