Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - In April 2006, ABC Corporation acquired an eight-storey building for the purpose of earning rental income and capital appreciation at $25 million. The cost of freehold land was $5 million and the building was $20 million. The building was initially estimated to have a useful life of 50 years. The company depreciates the building using the straight-line method based on a monthly basis.
Beginning April 2011, the office building was revalued upward at $32 million by an independent professional valuer. The amount attributable to land and building was $9 million and $23 million respectively. Given the rising property value in 2012, the Board of Directors had decided to sell the office building to realise a capital gain. The property was sold at the end of March 2013 for $35 million.
Required -
1. Show the detailed computation arising from the revaluation of the building in April 2011.
2. Prepare the journal entry to record the revaluation and the elimination of revaluation at year end.
3. Compute the gain or loss on disposal of the office building and provide the journal entry for the revaluation reserve upon disposal of the office building.
4. Provide FOUR (4) methods to determine the fair value of an investment property.
All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710.
bullwhat are the acceptable inventory valuation methods under the u.s. generally accepted accounting principles
Given are account balances for Charlie Company: Gross sales, $100,000 and Interest expense, $3,000. How much is the gross profit margin
Karl Marx Corporation's contribution margin ratio is 35%. What is the best estimate of the company's net operating income
eaton co. uses the retail inventory method to estimate its inventory for interim statement purposes. data relating to
This is a tax research problem - Clyde had work for many years as the chief executive of Red Industries, and had also been a major shareholder. Clyde and the company had a falling out, and Clyde was terminated.
Calculate the maintenance cost that would be budgeted for a month in which 6,800 machine hours are planned to be used
Perform the two NPV calculations and provide a narrative of how you calculated both computations and why. Your answer must be justified
Which, in your opinion, is the best course of action for Flock's shareholders? Justify your answer. Be sure to include relevant examples where appropriate.
Determine whether the following accounts increased or decreased during the period: Receivables, Inventories, Other Current Assets, and Payables
Question - Bad Dawg produces pork sausages annually which requires 0.2 kilogram of raw material. Outline three importance of inventory management
Calculate the selling price for Job X941 if the company marks up its unit product costs by 20%
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd