Reference no: EM133189133
Question 1 - On January 1, 2021, Bongbong Company received a consolidated grant of P12,000,000. Three-fourths of the grant will be utilized to purchase a college building for students from underdeveloped countries. The balance of the grant is for subsidizing the tuition costs of those students for four years from date of grant.
The building was purchased in January 2021 and is to be depreciated using the straight-line method over 10 years. The tuition costs paid in 2021 amounted to P600,000. How much income from government grant should be recognized for 2021?
Question 2 - Leody Company purchased a machine on December 1, 2020 at an invoice price of P4,500,000 with terms 2/10, n/30. On December 10, 2020, Leody paid the required amount for the machine. On December 1, 2020, Leody paid P80,000 for delivery of the machine and on December 31, 2020, it paid P310,000 for installation and testing of the machine. The machine was ready for use on January 1, 2021. It was estimated that the machine would have a useful life of 5 years and a residual value of P800,000. Engineering estimate indicated that the useful life in productive units was 200,000. Units actually produced during the first two years were 30,000 in 2021 and 48,000 in 2022. Leody Company decided to use the output method of depreciation. What is the accumulated depreciation of the machine on December 31, 2022?
|
Best financial performance and future
: Which company do you believe performed the best over the past five-year period and which company do you believe will do the best in the future? Again, justify y
|
|
Technique of explanation and analysis
: Discuss the visual elements as well as the composition, medium, style, technique, and symbolism if relevant. You are being provided with 3 choices for your essa
|
|
Client scenario-damon and karen friesen
: Karen's (48) Manager of Straight Line Construction-Ste. Anne, Manitoba ($78,000 per year)
|
|
Explain one idea for business expansion in domestic markets
: Explain one idea for business expansion in domestic markets, Analyze segmentation variables of one domestic market for one business expansion idea using tools
|
|
What is the accumulated depreciation of the machine
: Leody Company decided to use the output method of depreciation. What is the accumulated depreciation of the machine on December 31, 2022
|
|
Evaluate and compare key concepts in machine learning
: Evaluate and compare the key concepts in machine learning and Apply learning algorithms to perform machine learning tasks
|
|
Conduct research on the business and gather information
: Conduct research on the business and gather information, post the links to the materials you are drawing your information from as part of the DB
|
|
What are the major objectives of internal control
: What are the major objectives of internal control? Explain the importance of internal control in payroll and personnel
|
|
How to make your company rise up
: How to make your company rise up, What is a good way to maintain their employees in the company
|