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Question - On January 1, 2012, Baelfire Company acquired a building at cost of P4,800,000. The building has been depreciated on the basis of a 20-year life. On January 1, 2016, an appraisal of the building showed its fair value (market-based) at P4,588,000 with no change in useful life.
Required -
1. Determine the amount credited to revaluation surplus on January 1, 2016?
2. Determine the depreciation for 2016?
3. Determine the revaluation surplus shown in the December 31, 2016 statement of financial position?
In 2015, Usher Sports Shop had cash flows from investing activities of -$4, 364,000 and cash flows from financing activities of -$5, 880,000.
the brandilyn toy company manufactures a line of dolls and a doll dress sewing kit. demand for the dolls is increasing
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I need to determine the best form of business entity for a business having the following characteristics and explain why choose that form of business:
What makes a CPA license valuable? a. Time, effort and education it takes to get the license. b. Continuing education after receiving the license. c. Monopoly on public accounting services.
Dolly thinks that a $2 tip would be sufficient and that the other $98 is like "found money." How much should Dolly include in her gross income
In your readings this module, you were introduced to Activity-Based Costing or ABC. It is a method used to determine a reliable predetermined benchmark.
medisecure inc. produces clear plastic containers for pharmacies in a process that starts in the molding department.
If Sweet Catering had recorded transactions using the Accrual method, how much net income (loss) would they have recorded for the month of May
Following are the amounts of the assets and liabilities of St. Kitts Travel Agency at December 31, 2010, the end of the current year, and its revenue and expenses for the year.
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