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Question - Black Corp. purchases a building with land at a cost of P100,000,000. In the sale and purchase agreement, P20,000,000 of the purchase price is attributed to the land. The building consists of 12 floors of equal space. Black also incurs the following costs in connection with the purchase of the property: legal and agency fees, P3,000,000; soft-launching cost to market for tenants; P500,000 and administrative expenses, P200,000.
Assuming Black Corp. uses two floors or 20% of the entire building for administrative purposes, at what amount should the investment property be initially recognized?
Write one thread of at least 500 words, Topic: Describe a reason why transfers of terminable interests should not qualify for the marital deduction
From the information given, compute the depreciation charge for 2018 under each of the following methods.
under the banking agencies regulatory classification guidelines substandard assets are defined as assets that are
December 31, 2020 for 500,000, Bamboo's Liabilities and Capital at that time were P90,000 and P350,00 respectively. How much is the goodwill valued on?
Purchase of equipment on January 1. What was the cash paid? Depreciation recorded on December 31. What was the depreciation expense?
Prepare a consolidated income statement for Pretzel Corporation and Subsidiary for 2011 and record the three eliminating entries
Will and Janine are divorced during the current year. Will is to have custody of their two children and will receive their house as part of the divorce.
On April 30, 2020, Owl issued its only dilutive security, $2,000,000, 6%, 9-year bonds at par, What is Owl's 2020 diluted earnings per share
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Nov. 30 Paid the semiannual interest on the bonds and amortized six months' discount. Prepare the bonds payable section of a partial balance sheet
Of all the business processes in the Accounting Information Systems (AIS), which do you think is the hardest to control and why? Be specific in your discussion of internal controls.
Two partners own together a small landscaping business in North Carolina, called Summer Lawn Care. They have been specializing in summer grass seeding.
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