User Account

All Pages

How much is the amount to be credited to revaluation surplus

Assignment Help Accounting Basics
Reference no: EM133151696

Question - A building was acquired on January 1, 2019 at an original cost of P16,000,000, with zero residual value. Depreciation is computed using Double Declining Balance Method. Useful life in years is 20 years.

On December 31, 2020, the building is appraised at a fair market value of P14,460,000.

The appraisal results are to be recognized in the accounts considering the same remaining life for the building.

How much is the amount to be credited to revaluation surplus at December 31, 2020?

Reference no: EM133151696

Questions Cloud

What distinguishes strategic planning : Complete analysis as to why the turnover is so high, provide a report on findings and recommended action plan, to reduce annual turnover to a target of 10% pa
Do you prefer online courses or face-to-face courses : Think of your education, do you prefer online courses or face-to-face courses and why? Explain.
Political and religious beliefs on change leadership : Locate a case and/or article which discusses the importance of political and religious beliefs on change leadership.
Understand the community without offending : The organization's perception is built on experiences, and interactions, the community must be able to trust and know that the organization has intentions of im
How much is the amount to be credited to revaluation surplus : On December 31, 2020, the building is appraised at a fair market value of P14,460,000. How much is the amount to be credited to revaluation surplus
Representing the australian labor party : Eddie Obeid was a NSW Parliament MP between 1991 and 2011 representing the Australian Labor Party.
Bugetary-estimation of revenue : As we are learning, a budget is an estimation of revenue and expenses over a specified future period of time.
Strategic goals of grow management consultants : How many staff will be required to achieve the strategic goals of Grow Management Consultants?
Concrete example of a multi-national firm : Give a recent concrete example of a multi-national firm that experienced or continues to experience talent shortages and how they utilized foreign workers to fi

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