Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 15 Aug 2017 My Price 11.00

Ryanair’s board

23.   Asset recognition and measurement. The following hypothetical transactions relate to Ryanair Holdings, Plc. (Ryanair), an Irish airline. Indicate whether each transaction imme- diately gives rise to an asset under U.S. GAAP and, separately, IFRS. If Ryanair recog- nizes an asset, state the account title, the amount, and the classification of the asset on the balance sheet as either a current asset or a noncurrent asset. Ryanair reports its results in thousands of euros.

a.   Ryanair’s board of directors decides to purchase 10 Boeing 777 airplanes, costing €640 million each.

b.   Ryanair places an order with Boeing for 10 Boeing 777 airplanes, costing €640 million each.

c.    Ryanair pays Boeing €60 million as a deposit on the aircraft it ordered in part b.

d.   Ryanair spends €50 million to obtain landing rights for the next five years at Beijing Capital International Airport.

 

 

 

 

e.    Ryanair writes a check for €12 million and assumes a mortgage from  its  bank for another €65 million to purchase new ground equipment costing €77 million.

f.    Ryanair issues common stock with a market value of €160 million to acquire used air- craft from a bankrupt regional airline. The carrying value of the equipment on the bankrupt airline’s books is €75 million.

Answers

Maurice Tutor
(5)
Status NEW Posted 15 Aug 2017 11:08 AM My Price 11.00

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