User Account

All Pages

What is total change against income as result of accounting

Assignment Help Accounting Basics
Reference no: EM132785614

On January 1,2020,Canyon Company decided to decrease the estinated useful life of the patent from 10 years to 8 years.

  • The patent was purchased on January 1,2015 for P3,000,000 with residual value of zero.
  • The entity decided on January 1,2020 to change the depreciation metjod from accelarated method to straight line.
  • On January 1,2020 the cost of the equipment is P8,000,000 and the accumulated depreciation is P3,400,000. 
  • The remaining useful life of the equipment on January 1,2020 is 10years and the residual value is P200,000.

problem 1: What is the total change against 2020 income as a result of the accounting change?

Reference no: EM132785614

Questions Cloud

Compute the degree of operating leverage : The Sterling Tire Company's income statement for 20X1 is as follows: STERLING TIRE COMPANYIncome Statement For the Year Ended December
Determine investment philosophy and investment strategy : What initial thoughts do you have regarding an investment philosophy and an investment strategy based on the above?
What is times interest earned : Lever Age pays an 10% rate of interest on $10.80 million of outstanding debt with face value $10.8 million. The firm's EBIT was $1.8 million.
What is the company debt-equity ratio : Consider this simplified balance sheet for Geomorph Trading:
What is total change against income as result of accounting : The patent was purchased on January 1,2015 for P3,000,000, What is the total change against 2020 income as a result of the accounting change?
Create an e-branding Presentation on Noel Leeming Company : Create an e-branding Presentation on Noel Leeming Company. (TECHNOLOGY BASED BRANDING). Role of online promotional mix in brand management
What is the current yield on a 1-year t-bill : A two-year Treasury bill offers a 6.4% yield to maturity. The market's concensus forecast is that one-year T-bills will offer 5.9% next year.
What is the value of the option to wait : What is the value of the option to wait if the applicable discount rate is 12 percent?
What journal entry for cougar corp to record the contingent : Husky Corp is probable and the amount of the gain is reasonably estimable. The journal entry for Cougar Corp to record the contingent gain on December 31st

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