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Cuz of 'going concern' principle...
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The cost principle requires that when assets are acquired they be recorded at?
Selling price
When is a gain on disposal of an asset recorded?
A gain is recorded when the asset is sold for a price greater than the assets book value.
WhAT is a term for the value at which an asset is reported on a financial statement?
Assets are usually recorded at FAIR value, but they might also be reported at carrying amount, purchase price, market price etc etc etc. Different names, different values, but usually fair value is the way to go!
How calculate net assets per share?
Calculating NAVs - Calculating mutual fund net asset values is easy. Simply take the current market value of the fund's net assets (securities held by the fund minus any liabilities) and divide by the number of shares outstanding. So if a fund had net assets of Rs.50 lakh and there are one lakh shares of the fund, then the price per share (or NAV) is Rs.50.00.
What are limitations of historical cost concept?
1.> No consideration of price level changes over time by holding constant purchasing power2.>The current market value of assets is ignored3.> The provision of depreciation under historical cost system is not sufficient for the replacement of assets4.>Profits are overstated during the period of inflation because revenues are recorded on current values whereas expenses at historical cost5.> Chance of overstating profit by selling historical cost assets6.> True performance of management may not viewAnswered by: Md. Robiul Alam FardeenUniversity Of DhakaBangladesh
The cost principle requires that when assets are acquired they be recorded at?
Selling price
How do you account for an asset you paid less than its valued price?
Assets are recorded at the price that was paid (cost).
When is a gain on disposal of an asset recorded?
A gain is recorded when the asset is sold for a price greater than the assets book value.
WhAT is a term for the value at which an asset is reported on a financial statement?
Assets are usually recorded at FAIR value, but they might also be reported at carrying amount, purchase price, market price etc etc etc. Different names, different values, but usually fair value is the way to go!
What is monetary assets?
A valued property or a thing that holds a price, mostly cash. These have fixed values that are unaffected by inflation or deflation.
What is the present value of a 1974 proof set?
Issue price was $7.00, current retail values are $9.00
What is the current price of Bulgarian stamps?
Depends on the stamps one have. The older, the reare have philanthropic and antique values
What is the value of a 1974 proof set?
Issue price was $7.00, current retail values are $7.50-$9.00
What is the value of a 1953 proof set?
Issue price was $2.10, current retail values are $200.00-$225.00.
What is the value of a 1989 US proof set?
Current retail values is $10.00 issue price was $11.00
What is the value of a 1974 coin proof set?
Issue price was $7.00, current retail values are $9.00
How calculate net assets per share?
Calculating NAVs - Calculating mutual fund net asset values is easy. Simply take the current market value of the fund's net assets (securities held by the fund minus any liabilities) and divide by the number of shares outstanding. So if a fund had net assets of Rs.50 lakh and there are one lakh shares of the fund, then the price per share (or NAV) is Rs.50.00.
