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Question - On January 1, 2021, Ripped Company classified non-current assets as held for sale that had a carrying amount of P2,500,000. On this date, the assets are expected to be sold for P2,300,000. Reasonable and expected disposal cost to be incurred for sale was expected at P100,000. By December 31, 2021, the asset had not been sold and the management after considering its options decided to place back the non-current asset into operations. On that date, Ripped Company's managers estimated that the non-current asset was now expected to be selling at P1,800,000 with disposal cost of P50,000, while depreciation for 2021 was computed at P500,000 if the non-current asset was not classified as held for sale. How much is the additional loss that shall be reported in the 2021 statement of comprehensive income?
garden house operates a commercial plant where it propagates plants for garden centers throughout the region. garden
As of December 31, 2014, Post Company had total cash of $162,000, notes payable of $86,200, and common stock of $53,000. During 2015, Post earned $42,000 of cash revenue, paid $23,000 for cash expenses, and paid a $3,600 cash dividend to the stockhol..
Assume that three full years of straight-line depreciation expense had been recorded on the cooker before the renovations were made. Compute the book value of the cooker after the renovations were made.
Should Kane Lifestyle make or buy the Gas Lift mechanisms? Show all calculations. Up until this point, Kane Lifestyle has been buying the gas lift
donovan company incurred the following cost while producing 500 unit.
What will be the annual payment for the 10 years rs 15 lakh loan if the interest rate 13 percent per year how much total amount of interest will be paid
Find and Discuss how the income statement budget would be created for a year starting with the sales budget through the SG&A budget.
What challenges does the city face based on a review of the Management, Discussion, and Analysis and what are specific key performance metrics used to gauge performance of city services?
Trepid Manufacturing Company prepared a static budget of 40,000 direct labor hours, with estimated overhead costs of $200,000 for variable overhead and $60,000 for fixed overhead. Trepid then prepared a flexible budget at 38,000 labor hours. How much..
For the past ten years, you've worked at a PETCO Salon as a dog groomer. You're thinking of starting your own dog grooming business. You found place you could rent that's right next to a popular shopping center, and two of your friends (who are also ..
How can we create a report to these operations managers explaining the reasons for the depreciation policies adopted by Albatross Ltd.
Problem - Inventory Turnover. Determine the inventory turnover for Apple and Mattel. Would you expect Mattel's inventory turnover to higher or lower than Apple
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