User Account

All Pages

What is the gain or loss to be recognized

Assignment Help Accounting Basics
Reference no: EM133178713

Question - Twinniedad Corporation purchased an Investment property on January 1, 2020 at a cost of P4,000,000. The property had a useful life of 20 years and on December 31, 2021 had a fair value of P4,800,000.

On December 31, 2021, the property was sold for net proceeds of P4,500,000. The entity used the cost model to account for investment property. What is the gain or loss to be recognized for 2021 regarding the disposal of the property?

Reference no: EM133178713

Questions Cloud

Describe the onset of American labor movement : Several national labor policies were created with the establishment of unions. Describe the onset of the American labor movement,
What is the specified asset in the contract : What are the non-lease components in the contract and how should it be recognized in the books? What is the specified asset in the contract
What was the dividend per share last year : STOCK SPLIT - Following a 5-for-1 stock split, Strasburg Company paid a dividend of $0.75 per new share, What was the dividend per share last year
Labor relations and collective bargaining : Describe the onset of the American labor movement, and explain how it relates to the growth of national unions.
What is the gain or loss to be recognized : The entity used the cost model to account for investment property. What is the gain or loss to be recognized for 2021 regarding the disposal of the property
BUS 205 Business Law Assignment : BUS 205 Business Law Assignment Help and Solution, Trident University - Assessment Writing Service - get the court to enforce your wager and make your friend
What were bender drawings for the year : On 31 May 2011, Bender's total equity was $144,867. What were Bender's drawings for year to 31 May 2012, if no additional capital was introduced to business
How much is the capital balances of missouri : Annual salary allocations are P12,500 to Missouri, P8,750 to Connecticut, and P6,250 to Oklahoma. How much is the capital balances of Missouri
Dismissal meeting for organizational layoff : Imagine that you are an office manager tasked with coordinating and leading the dismissal meeting for an organizational layoff.

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