Reference no: EM132834048
The following items of land and building are acquired by WTP Inc. on July 1, 2014:
(A) WTP acquired a land and building at a single cost of P20,000,000. At the date of acquisition, the fair value of the land is P30,000,000 while that for the building is P10,000,000.
(B) WTP acquired a land by issuing 200,000 ordinary shares with par value of P10. The ordinary shares of WTP is quoted at P15/share in the local stock exchange. The cost of the land on the seller is P1,500,000. At the date of acquisition by WTP, the fair value of the land is P2,500,000.
(C) WTP acquired a building by issuing bonds payable with face value of P5,000,000.
Problem 1: At the date of acquisition by WTP, the book value of the building is P4,000,000 while its fair value is P5,500,000. The bonds of WTP is trading in the local exchange at 90. What is the total cost of land to be capitalized by WTP on July 1, 2014?
|
Why did the united states change its government
: Choose one of the following topics below. Why did the United States change its government from the Articles of Confederation in 1783 to the Constitutional.
|
|
Compute the total indirect costs
: The Company's original single-allocation-based cost system allocated indirect costs to products at RM350 per machine hour. Compute the total indirect costs
|
|
What is carrying value of patent on december for wise inc
: On July 1, 2016, WISE sold the patent for P5,000,000 and incurred P500,000 disposal cost. What is the carrying value of the patent on December 31, 2015?
|
|
Calculate cost of goods sold
: Tisdell Fabricators, Inc., has 10 units in beginning inventory costing $15 each. Calculate cost of goods sold using: FIFO, and LIFO
|
|
What is the total cost of land to be capitalized by wtp
: The bonds of WTP is trading in the local exchange at 90. What is the total cost of land to be capitalized by WTP on July 1, 2014?
|
|
Did the magazine make an impact on popular culture
: Analyze one of the required readings from this week, but only one of the articles from the 1970's. There are several on feminism, from different perspectives.
|
|
What statement about mariah cdic coverage is true
: $30,000 is invested in treasury bills. If Metropolitan Credit Union became insolvent today, what statement about Mariah's CDIC coverage is true?
|
|
Describe specific elements of the works
: Describe specific elements of the works from the chosen artists that represent the multiplicity of the African American experience.
|
|
Prepare an income statement for the year
: Prepare an income statement for the year. All of the information needed for the income statement is available in the journal entries
|