User Account

All Pages

Prepare the journal entries on the books of Flint Ltd

Assignment Help Accounting Basics
Reference no: EM132489115

Question - Flint Ltd. purchased a building on January 1, 2018 for $14,880,000. Flint accounted for this asset using the revaluation model and revalued the building every two years. The building was estimated to have a useful life of 30 years with no residual value, and Flint used straight-line depreciation. On December 31, 2019, the building had a fair value of $14,056,000. On December 31, 2021, the building had a fair value of $12,796,800.

Prepare the journal entries on the books of Flint Ltd. to revalue the building on December 31, 2019 and December 31, 2021 using the asset adjustment method.

Reference no: EM132489115

Questions Cloud

Who are some major non-hospital and non-physician sectors : Who are some major non-hospital and non-physician sectors of the healthcare industry? What do they do? Give examples of the organizations. 250 Word minimum.
How much should be recorded on December : It was sold for $5,600 cash. Using this information, how much should be recorded on December 31 for the Gain or (Loss)? Round to whole dollars
Write a short essay that reflects your belief or passion : In this project, you will write a short essay that reflects your belief or passion about a particular part of your professional experience.
Determine the income tax expense : Determine the Income tax Expense for 2020. At December 31, 2020, temporary differences were associated with the following future taxable (deductible)
Prepare the journal entries on the books of Flint Ltd : Prepare the journal entries on the books of Flint Ltd. to revalue the building on December 31, 2019 and December 31, 2021 using the asset adjustment method
What should be the yield of the US Treasury bills : he pure rate of interest in the market is 3.0 percent and the inflation premium is 3 percent. US Treasury bills are risk free. What the yield of Treasury bills
Matlab for machine learning in condition monitoring : Apply Matlab toolbox on machine learning for condition monitoring of electrical or mechanical apparatus - Matlab for machine learning in condition monitoring
What principles of issues management were not followed : In what ways was marketing and public relations integrated in this campaign? What went wrong? What principles of Issues Management or Crisis Management weren't.
Calculate the takt time based on the data : Calculate the Takt Time based on the data. The customer wants 100 units. The company works 1 shift and has (2) 15 minute breaks and (1) 30 minute lunch break

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