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

  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