How much is the loss on replacement to be recognize

Assignment Help Financial Accounting
Reference no: EM132999066

Problem 1: BTS, Inc. finished constructing its factory on Jan. 1, 2012 at a total cost of P80,000,000. The factory has an estimated useful life of 40 years with no residual value. On Jan. 1, 2021, BTS replaced the walls on one of the areas of the factory at a total cost of P10,000,000. The estimates reveal that the cost allocated to the walls is P5,000,000. This improvement will increase the life of factory by 5 years. How much is the Loss on Replacement to be recognized on Jan. 1, 2021?

Reference no: EM132999066

Questions Cloud

Compute how much is the depreciation expense for bts co : Asset was being depreciated using the 150% Declining Balance Method. The building has a useful life of 25 years. How much is the depreciation expense for 2021?
How much loss on repayment of the grant will be recorded : How much Loss on Repayment of the Grant will be recorded on January 1, 2022? BTS Corp. formalized an agreement with the government on January.
How much depreciation expense to be recognized for bts co : BTS Co. had machinery recorded in its books in the total amount of P22,500,000.00.How much is the depreciation expense to be recognized for 2021?
How much is the depreciation expense for bts inc : BTS Inc., whose financial year end is every Dec. 31. How much is the depreciation expense for 2025 using the double declining balance depreciation method?
How much is the loss on replacement to be recognize : The improvement will increase the life of factory by 5 years. How much is the Loss on Replacement to be recognized on Jan. 1, 2021?
Prepare common size income statement for outdoor world inc : Prepare a common size income statement. The first column should show for Outdoor World, Inc., all items expressed as a percentage of net sales.
Compute the amounts of kroger total current asset : The Kroger Company is one of the world's largest supermarket chains. Compute the amounts of Kroger's total current assets and total quick assets.
How much depreciation be recognized using output method : For 2021, the machine produced a total of 75,000 units of cars. Using the Output Method, how much depreciation should be recognized?
Find how much is the depreciation expense for bts co : On December 31, 2021, BTS decided to change its depreciation method to SYD. How much is the depreciation expense for 2022?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Five year straight-line tax depreciation

An investment of $1000 is made. Over the next 5 years there will be income from the investment of $300 each year. The tax rate is 34%. The MARR for the company is 15%. Determine the after-tax rate of return using 5-year straight-line tax depreciation..

  The auditors find serious weaknesses in the internal control

Assume that the auditors find serious weaknesses in the internal control of Oak Canyon, Inc., a producer and distributor of fine wines. Would these internal control weaknesses cause the auditors to rely more or less upon each of the following type of..

  How much will this nest egg be worth at retirement

The player will not touch this money until he retires from the league in 10.00 years. How much will this "nest egg" be worth at retirement

  What is the purpose of elimination entries

What is the purpose of elimination Entries? What entries are prepared during the Elimination process and where are the entries entered

  What is the employee benefit expense for the current year

The expected rate of return on plan assets was 10%, the weighted average rate of return for plan assets was 9.5%, What is the employee benefit expense

  Unexpired risks in the case of fire insurance in addition

An additional reserve of 10% of the net premium was made for the unexpired risks in the case of fire insurance in addition to the balance brought forward.

  Compute for the carrying amount of the loan on december

Compute for the carrying amount of the loan on Dec. 31, 20x1. On Jan. 1 20x1, Hexatonic Bank extended a P2,000,000, 10% loan to XYZ, Inc.

  On july 1 2010 linux corporation a wholesaler of

on july 1 2010 linux corporation a wholesaler of electronics equipment issued 45000000 of 10-year 10 bonds at an

  How much is the carrying amount of asset

The estimated fair value less costs of disposal of Asset 2 is P285,000, which is greater than its value in use. How much is the carrying amount of Asset 1

  What is the amount of the child tax credit

What is the amount of their child tax credit/credit for other dependents (assuming they otherwise qualify for these credits) if their tax liability is $6,198?

  Calculate the interest revenue

Calculate the interest revenue, weighted-average accumulated expenditures, avoidable interest, and total interest cost to be capitalized during 2020.

  What will be the portfolio expected return

If the risk-free rate is 8 percent and the expected return on the market portfolio is 14 percent, what will be the portfolio's expected return?

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd