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Question - On January 1, 2016, Jerome Company signed a 12-year lease for a building. The entity has an option to renew the lease for an additional 6-year period on or before January 1, 2020. During January 2019, the entity made substantial improvement to the building. The cost of the improvement was P4,500,000 with an estimated useful life of 10 years. On December 31, 2019, the entity intended to exercise the renewal option. The entity has taken a full year depreciation on this improvement. On December 31, 2019, what is the carrying amount of the leasehold improvement?
A. 4,500,000
B. 4,050,000
C. 4,200,000
D. 4,000,000
Swifty Company purchased equipment for $251,930 on October 1, 2017. Compute depreciation expense under Straight-line method
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Partners share the economic risk of loss from recourse liabilities in the same way they share partnership losses. Kasi's basis in the partnership interest is:
A tax adjustment must be made in determining the cost of ________.a. common stockb. long-term debtc. retained earningsd. preferred stock
judgement case consider the question of whether the united states should converge accounting standards with ifrs.1.
Zidek Corp. requires an estimate of the cost of goods lost by fire on March 9. What is the cost of goods destroyed
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the activity from the long-term investments account for rice corporation appears below. in addition the income
Calculate the price of a million bond issue under each of the following independent assumptions (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1)
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