User Account

All Pages

Calculate the depreciation charges for the year

Assignment Help Accounting Basics
Reference no: EM133153786

Question - Pacific Cruise Line operates cruise ships. One of its ships was acquired on 1 January 2018 for a total cost of $400 million. The ship's components were as follows:

Components

Cost ($ million)

Useful life

Engine

80

5 years

Hulls and decks

200

25 years

Furniture and Fittings

120

10 years

On 1 January 2021, the company upgraded its furniture and fittings for $30 million. The remaining life of the furniture and fittings was revised to 5 years. The company also repainted the ship for $2 million.

Required - Calculate the depreciation charges for the year ended 31 December 2021 and prepare the extract of the statement of profit or loss and statement of financial position as at 31 December 2021.

Reference no: EM133153786

Questions Cloud

How would you respond to the threat of chinese entry : How would you respond to the threat of Chinese entry into the memory chip market in 2001?
Determine the quantity demanded, the quantity suppled : Determine the quantity demanded, the quantity suppled, and the magnitude of the shortage if a price celling of $32 is imposed in this market
How to show a improvement cone on a vector optimization : How to show a improvement cone on a vector optimization problem
What four variables describe the concept of big data : Questions: How does virtualization help organizations to be more efficient?
Calculate the depreciation charges for the year : Calculate the depreciation charges for the year ended 31 December 2021 and prepare the extract of the statement of profit or loss
High quality uav cameras and extraordinary customer service : Please help me critique this vision and mission statement. Vision Statement Mission Statement
Describe the global location : Select a country of your interest (other than USA, Canada, and countries where you have lived)
Audit of universal air : You have worked with Zaird and Associates, CPAs, for a little more than a year and are beginning your second audit of Universal Air (UA).
Explanation the role the operations manager plays : -An explanation the role the operations manager plays in a business. How the challenges of today affect the small business owner.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd