User Account

All Pages

What the carrying amount of the asset on december

Assignment Help Accounting Basics
Reference no: EM132668731

Problem 1: ABC Co. received a P1,800,000 subsidy from the government to purchase manufacturing equipment on January 2, 2018. The equipment has a cost of P3,000,000 a useful life of six years and no salvage value. Nadine depreciates the equipment on a straight line basis. If ABC Co. chooses to account for the grant as an adjustment to the asset, the carrying amount of the asset on December 31, 2018 statement of financial position is

Reference no: EM132668731

Questions Cloud

What are the equivalent units of production for month of aug : Blue Company production, Using the average cost method, what are the equivalent units of production for the month of August (Conversion)?
What is the cost of goods manufactured for the current year : Sheraton Company reported the following information for the current year: Ending goods in process P1,000,000. What is the cost of goods manufactured
How much should be inventory to external reporting purposes : How much of these costs should be inventoried to external reporting purposes? Lala Co. year end manufacturing costs were as follows
Create separation to build connection : Why is important to create separation to build a connection? How does Adam practice this, and how can you achieve this in your life ?
What the carrying amount of the asset on december : If ABC Co. chooses to account for the grant as an adjustment to the asset, the carrying amount of the asset on December 31, 2018 statement of financial position
Which internal control is most likely to audit of statements : Which internal control is most likely to an audit of financial statements? Which s not an assurance to be provided by an effective internal control system
Determine the consolidation worksheet entries : Determine the consolidation worksheet entries in the following year, assuming the inventory has been -sold, and explain the adjustments on a line-by-line basis
Mergers and acquisitions are capital budgeting techniques : Mergers and acquisitions are capital budgeting techniques. This technique is a managerial expansion decision to increase assets drawing a cash benefit.
What methods for the measuring performance : What methods for the measuring performance would be most suitable for the system Retrofit is using ? Why?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Identify and explain five ethical risks

Identify and explain FIVE ethical risks which arise from the above actions of Black & White & Co; State FOUR matters that should be included within an audit

  What information should an accountant provide

Corporate Governance Paper and Power Point. What information should an accountant provide to help guide and support the board and management.

  What are the ethical considerations in the given case

Jamie Catering, the former assistant controller who has been promoted to controller, is training Rita in her new duties.

  Pair of hexade cimal digits

To create the web color #RRGGBB, use color.RGBA{0xRR, 0xGG, 0xBB, 0xff}, where each pair of hexade cimal digits represents the intensity of the red, green, or blue component of the pixel.

  A company has already incurred a 24000 cost in partially

a company has already incurred a 24000 cost in partially producing its two products. their selling prices when

  Post the transactions to T-accounts

Post the transactions to the T-accounts. Use the amounts from the T-accounts in Requirement (1) to prepar August 31 trial balance for Pose-for-Pics

  Why are lifo and fifo so popular

Why are LIFO and FIFO so popular?

  A company purchases a 10000 square foot commercial building

a company purchases a 10000 square foot commercial building for 400000 and spends an additional 65000 to divide the

  How much revenue does minarski electronics recognize

How much revenue does Minarski Electronics recognize for the month ended April 30th, assuming that revenue is accrued monthly

  A masters of accountancy degree at mid-state university

a masters of accountancy degree at mid-state university would cost 10000 for an additional fifth year of education

  What is the amount recognized on the sale of the land

The buyer also assumed the remaining mortgage of $13,000. What is the amount recognized on the sale of the land

  Prepare a statement of cash flows

Dividends in the amount of $5,985 were declared and paid during 2010. Prepare a statement of cash flows using the indirect method

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