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!
On January 2, 2019, Silent Corporation has an investment property that was carried at fair value with a carrying amount of Php 2,500,000 (historical cost, Php 2,400,000). As of December 31, 2019, the fair market value of the property is Php 2,600,000. On December 31, 2020, the fair market value of the property was Php 2,800,000. On this date, Silent Corporation decided to reclassify/transfer the property to inventory.
Problem 1: On the date of transfer, what amount should the inventory be valued?
Problem 2: Prepare the journal entries on December 31, 2020.
On December 31, 2015, Reagan Inc. signed a lease for some equipment having a nine-year useful life with Silver Leasing Co. The lease payments are made by Reagan annually, beginning at signing date. Title does not transfer to the lessee, so the equipm..
Journalize and post the adjusting entries. Prepare an adjusted trial balance. Prepare an income statement, a statement of owner's equity, and a balance sheet.
Calculate the depreciation on the equipment in these two years using the 200%-declining-balance (using full-year depreciation in the first year)
Really Fast Delivery Services has the collected the following information about operating expenditures for its delivery truck fleet for the past five years: Year Miles Operating Costs 2009 110,000 $390,000 2010 140,000 $420,000 2011 100,000 $360,000 ..
Compute Why do some organizations pay dividends and others do not? What factors are considered when an organization determines whether or not to pay
question kinkaid co. is incorporated at the starting of this year and engages in a number of transactions. the given
what is currently the value of the firm? if the owner presently receives an offer of $15050 for the firm and accepts it, what does that imply about his discount rate?
Explain Assets Liabilities Vault Cash $20,000 Checking deposits $200,000 Deposits at Fed $30,000 Net Worth $15,000 Securities $45,000 Loans $120,000
This investment will be recovered at the end of the third year. Merton Shovel has a 35 percent marginal tax rate and a 15 percent required rate of return
Prepare a classified balance sheet for Tricam Engineering at December 31, 2013 using the post-closing trial balance and the additional information provided.
Last year the Diamond Manufacturing Company purchased over $10 million worth of office equipment under its “special ordering” system, with individual orders ranging from $5,000 to $30,000. Describe the weaknesses relating to purchases and payments of..
What is the adjustment to inventory that would be included in the consolidated statement of financial position of MNO at the year-end resulting from this sale?
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