Reference no: EM133186049
Questions -
Q1. Bergs Company has a single investment property which had originally cost P580,000 on January 1, 2018. On December 31, 2020, its fair value was P600,000 and on December 31, 2021, it had a fair value of P590,000. On acquisition, the property had a useful life of 40 years. What should be the expense recognized in Bergs Company's profit or loss for the year ending December 31,2021 under the fair value model and cost model?
Q2. Bergs acquired a building on January 1, 2018 for P9,000,000. At that date, the building had a useful life of 20 years and Bergs classified this building as owner-occupied property.
On July 1, 2021, the new building constructed for Bergs became ready for occupation. As a result, the company vacated its old building and decided to lease it out to third parties. At the time of reclassification, the fair value of the building was P7,000,000. The company has a policy of measuring all its investment properties at fair value.
How much should be recognized in profit or loss for the year 2021 as a result of the transfer?
|
What amount should be reported as investment property
: Based on the provisions of IAS 40, what amount should be reported as Investment Property in the separate financial statements of Bergs Company
|
|
Big data for social good challenge
: Go to The "Big Data For Social Good Challenge" submissions page at. Select and review any one of the project videos on this site that interests you, plus any ot
|
|
Determine when the attack has been successful
: Determine when the attack has been successful - screenshot showing the before and after ARP tables on your pfsense VM. Use the arp command
|
|
Why the price of sugar has been increasing recently
: Explain, using supply and demand analysis, why the price of sugar has been increasing recently
|
|
What should be the expense recognized
: What should be the expense recognized in Bergs Company's profit or loss for the year ending December 31,2021 under the fair value model and cost model
|
|
What is the balance in the fund at the end of years
: Red Company invested $10,000 in a fund that was earning interest at a rate of 4.00%. What is the balance in the fund at the end of 3 years and 9 months
|
|
What is the carrying animal! of the building on decanter
: On January 11 2021, the Bergs Company acquired a building to be held as investment property for P5,000,000. What is the carrying animal! of the building
|
|
Investments dr allen ronald has probably made
: 1. What are the investments Dr. Allen Ronald has probably made in his business and how would each affect the basic accounting equation?
|
|
How is culture like an iceberg
: 1. How is culture like an iceberg? In a short essay, explain the relationship between the iceberg theory and international business relationships.
|