User Account

All Pages

What is the depreciation charged

Assignment Help Accounting Basics
Reference no: EM132679396

An entity purchased for cash a new building on January 1, 2020 for P2,100,000. The building has an estimated useful life of 25 years with no residual value. Depreciation is computed each December 31 on a straight line basis.

  • On January 1, 2022, the company replaced the old roof with a permanent tile roof costing P1,187,900. The cost of the old roof was P675,000. The new roof resulted to a residual value of P 100,000 and considered a betterment.

Problem 1: What is the depreciation charged for 2022?

Group of answer choices

Option 1: 108,648

Option 2: 96,996

Option 3: 104,516

Option 4: 104,300

Reference no: EM132679396

Questions Cloud

What amount should princess company record as cost : What amount should Princess Company record as cost of the asset received in exchange? Princess Company agreed with another company to exchange an old tractor
How you would go about applying the evaluation tasks : An explanation of how you would go about applying the evaluation tasks. Also, explain how you would acquire the information you need to design an evaluation.
What is the implied price per share of funding? round : How many shares must the venture capitalist receive to end up with 28% of the? company? What is the implied price per share of this funding? round?
Would the trial balance be out of balance : Would the trial balance be out of balance if the $3,100 entry had been journalized correctly but the credit to Cash had been posted as $1,300
What is the depreciation charged : What is the depreciation charged for 2022? On January 1, 2022, the company replaced the old roof with a permanent tile roof costing P1,187,900.
Analyze the authors methodology and findings : Relative to your Course Project, prepare an annotated bibliography on community policing relevance to criminal justice management, leadership, and decision.
How much did your firm raise from the? ipo : Your firm has 8 million shares? outstanding, and you are about to issue 6 million new shares in an IPO. The IPO price has been set at $15 per? share
What accounts should be debited and credited in February : Resource Services Company performed services in February for a specific customer, for a fee of $11,250. What accounts should be debited and credited in February
What is the amount of gain or loss should the company : Senior Company, What is the amount of gain or loss should the company recognize in its 2021 profit or loss as a result of the reclassification?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate the annual depreciation for year

The price of a sound system purchased by a local town hall was $42,500. It cost $2,100 for delivery

  Describe how networking skills can improve project success

Networking is very important for professionals in the IT industry as a way of developing one's career and in maintaining professional skills. However, not all networking opportunities are without cost.

  Journalize the entries to record the issuance of the note

A business issued a 45-day 10% note for 255,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note on January

  I sell tax services to corporations i sign a new clientto a

i sell tax services to corporations. i sign a new clientto a one-year contract. this new client is my largest client

  Cigars requiere 80000 in separable costs while chewing

western corp. produces two products cigars and chewing tobacco from a joint process involving the processing of tobacco

  Explain the size-related paradox that companies face

Discuss the ideas that are essential while designing an organization. Explain the size-related paradox that companies face.

  During 2010 jennifer industries reported cash provided by

during 2010 jennifer industries reported cash provided by operations of 230000000 cash used in investing of 343000000

  What is the direct materials quantity variance

Material price variance-unfavorable 3600 and Standard quantity allowed for actual production. 16000. what is the direct materials quantity variance

  What should be hancock earnings per common share

Net income for the year ended December 31, 2010, was $1,020,000. What should be Hancock's 2010 earnings per common share, rounded to the nearest penny

  This is a partial adjusted trial balance of fenske company

If $2,500 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2011?

  What is the ending inventory

On January 10, Ehrhart purchased 6 units at $710 each. The company sold 3 units on January 8 and 5 units on January 15. What's the ending inventory

  The following purchase transactions occurred

The following purchase transactions occurred during May for Amy's Catering Service:

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