F1- Extraordinary Items.

Question 1

under US GAAP, the material loss should present separately as a component of income from continuing operation when it is :

Answer 1

Gain or loss that are unusual in nature or occur infrequently but not happened together. It is a component of income from continuing operation.

Question 2

A company is required to file quarterly financial statement of 10-Q. that company is not subject to seasonal fluctuation, in addition to the most of quarter end, which period is required to present balance sheet on from 10-Q?

Answer 2

if there is no seasonal fluctuation, then the end of preceding fiscal year needs to include in most recent quarter end.

Question 3

what are the capitalized costs in patent?

Answer 3

The purchase price of patent, the VAT(value add tax) taxes, and the legal cost of register the patent.

Question 4

what account is classified as nonmonetary?

Answer 4

Accumulated depreciation of PP&E.