User Account

All Pages

What is the amount of gain should jp recognize

Assignment Help Accounting Basics
Reference no: EM132789748

Problem 1: On Dec 31,2020, JD Company traded equipment with an original cost of P400,000 and accumulated depreciation of P 160,000 for another equipment. In addition, JD Company received P20,000 cash in connection with this exchange. The exchange transaction lacks the necessary commercial substance. What is the amount of gain should JP recognize assuming the fair value of asset received is P240,000?

Reference no: EM132789748

Questions Cloud

Find what is the carrying value of the equipment on dec : The equipment being depreciated using the sum-of-years digit method. What is the carrying value of the equipment on Dec 31,2021?
How the journey unfolded during each of the given steps : Joseph Campbell's theories on mythology and the Hero's Journey connect mythology to our everyday lived realities. In this module, you learned that all myths.
How much does john producer surplus : John has been working as a tutor for $300 a semester. When the university raises the price it pays tutors to $400. How much does John's producer surplus
What is the carrying value of the equipment on dec : The equipment is being depreciated using the double declining method. What is the carrying value of the equipment on Dec 31,2020?
What is the amount of gain should jp recognize : Lacks the necessary commercial substance. What is the amount of gain should JP recognize assuming the fair value of asset received is P240,000?
Are there changes to the rules on obtaining consent : In the current COVID-19 pandemic, what is ethically and legally required of physicians and medical professionals when informing patients about treatment.
Response to intervention graphic organizer : Early childhood teachers will have students with a variety of skill levels and behavior needs in the classroom.
Prepare the entries on both companies books : ABC Co. exchanged machinery with an appraised value, Prepare the entries on both companies' books assuming that the transaction lacks commercial substance.
What role does religion play in being happy : In this module, you have learned about different religions and philosophical views of happiness. Write a 1-2 page essay answering the following.

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