Reference no: EM132910071
Question - On Sept 30, 2020, ABC acquired a building to earn rent through operating leases. The investment property was initially measured at $20,000,000. It has an estimated useful life of 25 years and a residual value of $400,000. It has a fair value of $22,000,000 and $23,000,000 as of the end of 2020 and 2021 respectively.
1. Using the cost model, what is the depreciation expense for the year 2020? Note that asset was acquired on Sept. 30.
2. Using the cost model, what is the carrying value of the investment property on Dec. 31, 2021?
3. Using the fair value model, what is the carrying value on Dec. 31, 2020?
4. Using the fair value model, what is the gain or (loss) from change in fair value?
|
What was trend inc december balance
: The following data were obtained from the records of trend, Inc.: current ratio (at year end) 1.5. What was Trend Inc December balance
|
|
Contribution to the research methodology report
: Personal contribution to the literature review report, i.e. search process, summarising of relevant articles, designing the outline/argument/structure
|
|
What is the gain on life insurance settlement
: The president died on March 1, 2022. Prepare entries related to the life insurance for the year 2019-2022. What is the gain on life insurance settlement
|
|
Analyzed case law related to school desegregation
: You have researched and analyzed case law related to school desegregation, church-state interaction,
|
|
What is the depreciation expense for the year
: The investment property was initially measured at $20,000,000. Using the cost model, what is the depreciation expense for the year 2020
|
|
Districts with low socioeconomic populations
: Explain how the San Antonio Independent School District v. Rodriguez case decision affects funding for districts with low socioeconomic populations.
|
|
Evaluate methods and systems for rewarding teams
: Evaluate methods and systems for rewarding and compensating teams. Analyze leadership roles, techniques, and challenges in leading teams.
|
|
Accreditation process in higher education
: You compared and contrasted two accrediting agencies and now have a better understanding of the accreditation process in higher education.
|
|
Determine what dividend needs to be paid in three years
: Determine what dividend needs to be paid in three years' time so that the equity investors will be equally content to wait three years
|