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Question - On 1 July 2020, a company opened a chemical reprocessing plant. The plant was due to be active for four years until 30 June 2024, when it would be decommissioned.
At 1 July 2020, the costs of decommissioning the plant were estimated to be P8 million in 4 years. The company considers that a discount rate of 12% is appropriate for the calculation of a present value.
What is the total charge to the statement of profit or loss in respect of the decommissioning for the year ended 30 June 2021? Round present value factor to 4 decimal points.
Would it be possible to determine the recoverable amount of the railway in terms of value in use, if possible the amount of value in use will be more than scrap
For federal tax purposes, royalty income that is not derived in the ordinary course of a business is classified as:
Donald, Anne and Todd have the following capital balances: $40,000, $50,000, and $30,000 respectively. The partners share profits and losses 20%, 40%, and 40% respectively. Anne retires and is paid $80,000 based on an independent appraisal of the bus..
On October 31, 2018, Damon Company’s general ledger shows a checking account balance of $8,418. The company’s cash receipts for the month total $74,460, of which $71,330 has been deposited in the bank. In addition, the company has written checks for ..
Assume that your grandmother wants, Compute the Present Value of each of these options if you expect the interest rate to be 6% annually for the next 10 years.
At the end of the accounting period, ABC owes the bank three months of interest. What is the adjusting journal entry made by ABC Company? Explain.
Microsoft Corp. reported earnings per share of $2.05 in 2006 and $2.95 in 2016. At what annual rate did earnings per share grow over this period
Provide the bond's market yield at the time of issuance and then state the value of the respective CF payments ("pmts.") for year 1, 2, and 3
Trevi Corporation recently reported an EBITDA of $32,400 and $9,700 of net income. The company has $6,700 interest expense, and the corporate tax rate is 35 percent. What was the company’s depreciation and amortization expense?
What internal controls are missing that enable the theft to occur? Caroline was asked to perform the bank reconciliation until they found someone to replace.
How to Determine the amount profit of Silver Berhad for the year ended 31 December 2018. Silver Berhad is in the process of finalising the financial statements
Parent Company acquired 100% of the stock, Explain in detail what steps must be taken to complete a consolidated worksheet at December 31, 2020.
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