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Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello
Edition 16ISBN: 978-0077862381Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello
Edition 16ISBN: 978-0077862381 Exercise 64
Financial Statement Harmonization
Refer to Exhibit 15-6 in this chapter.ssume a United Kingdom company, Brits International, lists on both the London Exchange using U.K.AAP and the New York Stock Exchange.rits International must prepare a reconciliation'from U.K.AAP to U.S.AAP.his reconciliation shows the following difference associated with revaluations of fixed assets:
Required:
a.xplain why the adjustment to U.S.AAP resulted in additions to net income.
b.xplain why there are additions to shareholders' equity and why those additions are greater than the additions to net income.
c.xplain why there is a deduction to shareholders' equity.
Refer to Exhibit 15-6 in this chapter.ssume a United Kingdom company, Brits International, lists on both the London Exchange using U.K.AAP and the New York Stock Exchange.rits International must prepare a reconciliation'from U.K.AAP to U.S.AAP.his reconciliation shows the following difference associated with revaluations of fixed assets:
Required:
a.xplain why the adjustment to U.S.AAP resulted in additions to net income.
b.xplain why there are additions to shareholders' equity and why those additions are greater than the additions to net income.
c.xplain why there is a deduction to shareholders' equity.
Explanation
Verified
Verified
(a) The adjustments to U.S. GAAP were re...
Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello
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