User Account

All Pages

What is the revaluation surplus on January

Assignment Help Financial Accounting
Reference no: EM132950268

Question - BOUGAINVILLEA Company acquired a building on January 1, 2017 at a cost of 20,000,000. The building had a useful life of six years and residual value of 2,000,000. The building was revalued on January 1, 2020 and the revaluation revealed replacement cost of 30,000,000, residual value of 4,000,000 and revised useful life of 8 years from the date of acquisition. What is the revaluation surplus on January 1, 2020? Solutions must be in proper accounting form.

Reference no: EM132950268

Questions Cloud

How is the amount of past service costs treated : How is the amount of past service costs treated in 2017 and subsequent years under (1) U.S. GAAP and (2) IFRS? Prepare the necessary journal entries
Find what would be the quick reason or acid test : Assuming your company's current assets are 1,223,000, current liabilities are 620,000 and inventory is 289,000. What would be the quick reason or acid test?
What is the weighted average cost of capital for this firm : Question - A firm has a 25% debt-to-equity ratio. The cost of debt is 6%. What is the weighted average cost of capital for this firm
How costs might differ for managerial and financial accounti : Discuss the different types of costs at your current or a previous employer. Explain how costs might differ for managerial and financial accounting.
What is the revaluation surplus on January : BOUGAINVILLEA Company acquired a building on January 1, 2017 at a cost of 20,000,000. What is the revaluation surplus on January
Compute the volume variance for the month of june : Compute the volume variance for the month of June. The actual results were 2 maintenance checks on the B737 and 3 maintenance checks on the A320.
What was the economic profit : The weighted average cost of capital for a company is 12 percent. The company started the year with $20 million of invested capital. What was economic profit
Which demographic shift if any do feel will a noticeable : Which demographic shifts, if any, do you feel will have a noticeable impact on the marketing for your new product/service in the next 10 years?
Find the amount of gross profit on the income statement : Use the below financial information to answer question: Operating expenses $45,000. Find the amount of gross profit on the income statement

Reviews

Write a Review

Financial Accounting Questions & Answers

  Prepare journal entries for sales and purchases

Prepare Journal Entries for Sales and Purchases (With Discounts) Super Copy Co. is an office supply store. The company uses a perpetual inventory system. Record the above transactions in the company's general journal. To conserve space, omit the writ..

  Most likely occurred as a result of this transaction

On June 18, Baltic Arena paid $6,600 to Marvin Maintenance, Inc. for cleaning the arena following a monster truck show. Which of the following most likely occurred as a result of this transaction.

  Prepare unadjusted trail balance and adjusted trail balance

Prepare an unadjusted trial balance. Prepare the following adjusting entries at July 31: Insurance expired during July is $ 400. Supplies on hand on July 31 are $ 1,475. Prepare an adjusted trial balance . Prepare unadjusted trail balance and adjuste..

  What amount should balt report in its december

What amount should Balt report in its December 31, 2010 balance sheet as investment in Ace

  Make a budget for may stating the total amount for the may

Make a budget for May stating the total amount for the May budget. Assume the budget will increase to 24,000 jars of sauce reflecting anticipated sales

  What is the length of operating cycle

Customer charges their purchase on a credit card whereby payment is received in 15 days. Given this information, what is the length of operating cycle?

  What is dominicks earned income credit

Sammie and her two children, ages 8 and 10, lived with her boyfriend, Dominick, for all of 2014. The children are not Dominick’s children but he provided all of their support. He can claim them as dependents because they are not the qualifying childr..

  Prepare an adjusted trial balance to verify debits

Calculate with the formulas that are present. If your trial balance is not in balance, you must go back and check your postings to the ledger and the posting of ledger balances to the worksheet - Prepare a trial balance to verify that total debits..

  Santos company is starting its advertising campaign for

santos company is starting its advertising campaign for next year and has prepared the subsequent budget data based on

  Which account should cozy pajamas company use to report

Which account should Cozy Pajamas Company use to report the amount owed? The Cozy Pajamas Company owes $1.5 million to the Brushed Cotton Company

  What inventory account would be expected to have a balance

In the accounting records, the inventory account would be expected to have a balance on December 31 prior to adjusting and closing entries that was?

  How much should she invest in the money market account

How much should she invest in the money market account each year for the next 8 years to achieve her objective

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