Hyperinflation test
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27 Terms
8,500,000
6,200,000
What amount should be reported in a hyperinflationary statement of financial position for land?
6,000,000
What amount should be reported in a hyperinflationary statement of financial position for investment in bonds?
1,200,000
What amount should be reported in a hyperinflationary statement of financial position for long term debt?
1,600,000
5,150,000
What amount should be reported as total liabilities after restatement for hyperinflation?
1,200,000
What amount should be reported as retained earnings after adjusting for hyperinflation?
2,750,000
7,200,000
What amount should be reported as cogs after restatement for hyperinflation ?
4,000,000
If the entity is operating in a hyperinflationary economy, what amount should be reported as net loss?
5,440,000
276,000 loss
460,000 loss
2,480,000 loss
1,8750,000 gain
0
What amount should be reported as retained earnings after restatement?
5,000,000
5,300,000
1,480,000
9,240,000
14,904,000
What amount should be reported as retained earnings after restatement?
3,104,000
What amount should be reported as total shareholder’s equity after restatement?
13,104,000
6,000,000
What amount should be reported as retained earnings after restatement?
200,000
What amount should be reported as total shareholders equity after restatement?
5,400,000