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Question - On September 1, 2020, Company purchased a parcel of land with a building on it for a combined purchase price of $3,900,000. An independent appraiser determined that the fair values of these assets to be $3,075,000 for the land, and $1,455,000 for the building. Immediately after the purchase, company spent $600,000 to replace the roof of the building. On November 1, Kensington paid $10,000 to have the exterior of the building painted. A building engineer's report indicated that the roof replacement extended the useful life of the building from 25 years to 35 years, while that paint job had no effect on the building's useful life or residual value. Kensington decided to use the straight-line method to depreciate the building and estimated that the building will have a residual value of $150,000 at the end of its useful life.
In the spaces below, determine the carrying value (i.e. net book value) of land and building as of December 31, 2020. Assume that the company occupied and started using the building on September 1, 2020.
Due to an error in computing depreciation expense, Crote Corporation understated accumulated depreciation by $78 million as of December 31, 2016. Crote has a tax rate of 35%. Crote's retained earnings as of December 31, 2016, would be
Why is it important for a business to minimize.What are the benefits, costs and risks of an aggressive financing strategy and a conservative financing strategy?
You have a project with the following cash flow stream (assume a 10% discount rate). What is the profitability index of the project? Is it acceptable? Calculate the profitability index for this project. Is the project favorable? Why or why not?
The provisional fair value of the noncurrent assets of Charm increased by P2, 250. How much is the combined total assets at the end of 2013?
Allied accounts for differential risk by adjusting its corporate cost of capital up or down by 2 percentage points. Which system should be chosen?
Is there anything that you would like to improve upon in this course? How much did you know about interest and borrowing money before starting Unit 6?
On January 1, 2014, Lennon Industries had stock outstanding as follows. 6% Cumulative preferred stock, $108 par value, issued and outstanding 11,900 shares $1,285,200 Common stock, $11 par value, issued and outstanding 282,000 shares 3,102,000 To acq..
Calculate Inventory Turnover and Gross Profit Margin for your selected company for the last two years from the SEC Form 10-K.
Ambrose Co. has the option of purchasing a new delivery truck for $84,600 in cash or leasing the truck for $18,300 per year, payable at the end of each year for six years. The truck also has a useful life of six years and will be depreciated on a str..
How to hedge against these risks internally and externally? The exchange rates applicable in the market and why? Factors that might affect the exchange rate
Record the book-keeping entries to correct the errors and eliminate the suspense account in the trial balance at 31 December 2019
Assuming the price of ABC Company increases to 160 per share one year from now, what is the expected cash-flow per share for an investor who owns
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