How much would be shown as investment property

Assignment Help Accounting Basics
Reference no: EM132612612

Problem 1: ABC Company owns an office building that is being leased out to various companies. ABC is required to provide security and maintenance services under the lease contracts. The building was acquired on January 1, 2014 at a cost of 6,000,000. The accumulated depreciation at the beginning of the year is 480,000. How much would be shown as investment property in ABC's 2016 Financial Statements?

Option A. 6,000,000

Option B. 5,520,000

Option C. Answer not given

Option D. 0

Option E. 5,280,000

Reference no: EM132612612

Questions Cloud

What is the maximum capital cost allowance : What is the maximum capital cost allowance that ABC Co. can claim for 2019, assuming that the company is a HST registrant
Signs and symptoms of lyme disease- borrelia burgdorfen : What is the signs and symptoms of Lyme disease- borrelia burgdorfen
Functions and responsibilities of the food : Analyze the functions and responsibilities of the food and beverage director to determine which presents the greatest challenge(s)
Discuss the aims of such outbreak investigations : The aim of investigations during an infectious disease outbreak span beyond simple diagnosis: discuss the aims of such outbreak investigations
How much would be shown as investment property : The accumulated depreciation at the beginning of the year is 480,000. How much would be shown as investment property in ABC's 2016 Financial Statements?
What is the mode of transmission of infectious agents : Cattle are allowed to a pasture in a field that contains the farmhouse well and the farmers family becomes ill with a gastrointestinal pathogen after drinking w
How much is the adjusted balance of cash in august : How much is the adjusted balance of Cash in August? Understatement of book receipts. Notes collected by bank. Outstanding checks
Write on a Reflective Report on leadership : Write on a Reflective Report on leadership - Describe how the leadership concept is implemented in your work environment
Determine the carrying amount of the accounts receivable : Determine the carrying amount of the accounts receivable at December 31, 2021 after the required adjustments under each assumption

Reviews

Write a Review

Accounting Basics Questions & Answers

  Discuss how many units need to be sold in order to earn

how many units need to be sold in order to earn an after-tax target profit of $450,000

  Locate the 2003 consolidated statements of cash flows for

locate the 2003 consolidated statements of cash flows for 1-800 contacts inc. net income for this company is on a

  Adjusting journal entry for bond interest

Milton's bonds pay interest semi annually on July 1 and January 1. If its fiscal year ends on September 30, which statement is true for Milton's year-end adjusting journal entry for bond interest?

  Prepare a variable costing income statement

Assuming the company uses variable costing, calculate Polk's manufacturing cost per unit for 2012. Prepare a variable costing income statement for 2012

  What amount does the US company report as cost of goods sold

The U.S. company's accounting year ends December 31. What amount does the U.S. company report as cost of goods sold

  Compute trend analysis for net revenue and net income round

magic oaks realtys net revenue and net income for the following five-year period using 2012 as the base year

  Compute the amounts that pepper enterprises should report

Compute the amounts that Pepper Enterprises should report in its December 31, 2018 consolidated financial statements for fair value analysis

  Discuss about the stock valuation procedures

In this chapter, we examined nine stock valuation procedures: Zero-growth DVM.

  What cash amount is collected from customers in the period

Net sales in period are $590,000, beginning accounts receivable are $120,000. What cash amount is collected from customers in the period

  Discuss stockholders who are also employees of the business

Your client, Bob, is the CEO of a cooperation that has 12 stockholders who are also employees of the business

  What was the most likely net change

Ozinzim & Sons Ltd sold products to customers on the 30 June 2006 for a total price of R10000. The terms of the sale are that payment is due in 30 days.

  Prepare the stockholders equity section for amado co

Prepare the stockholders' equity section for Amado Co. at Dec. 31, 2008

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