User Account

All Pages

Compute what amount asset be measured in the statement

Assignment Help Accounting Basics
Reference no: EM132744479

Problem 1: Coran Co. accounts for noncurrent assets using the cost model. On july 31, 2013, the entity classified a noncurrent assets as held for sale. At that date, the asset's carrying amount was 1,450,000, the FV was estimated at 2,150,000 and cost of disposal at 150,000. The asset was sold on Jan. 31, 2014 for 2,120,000. At what amount should the asset be measured in the statement of financial position on Dec. 31, 2013?

Reference no: EM132744479

Questions Cloud

Prepare journal entries at december related to equipment : ABC Co acquired an equipment on 1 January 1, 2018, Prepare the journal entries at December 31, 2019 related to the equipment. Show the calculations.
Social networking applied to retail inventory control : Read the article "Social Networking Applied to Retail Inventory Control" Preview the documentfrom the California Apparel News.
Find what is the measurement of the equipment : The entity decided not to sell the asset but to continue using it. What is the measurement of the equipment that ceases as held for sale on Dec. 31,2015?
Should award one accept the special order : Award One must accept or reject the special order in full. Should Award One accept the special order? Show your calculations
Compute what amount asset be measured in the statement : Asset was sold on Jan. 31, 2014 for 2,120,000. At what amount should the asset be measured in the statement of financial position on Dec. 31, 2013?
What is the gross profit for the current year : Selling expense were equal to 15% of sales and also 25% of cost of sales. All other expense were 13% of sales. What is the gross profit for the current year?
Applying the learned information from career self : Organizations today have adopted innovative measures to retain key talent and reduce turnover.
What is is the amount of direct labor cost incurred : Finished goods at year end amounted to 20% goods manufactured. What is is the amount of direct labor cost incurred? PhilCPA Adapted
What amount should reported as profit before tax in elysee : The insurance entity will however be received on February 14, 2014. What amount should be reported as profit before tax in Elysee's financial statements?

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