Solution-What the depreciation expense

What the depreciation expense

Assignment Help Accounting Basics

Reference no: EM132977072

Question - On January 1, 2021, ABC Company sold machinery to MNO, its wholly-owned subsidiary for P450,000. The Equipment had cost ABC P560,000. The book value at the time of sale was P230,000. ABC used a 5-year life, with a salvage value P10,000 and uses sum of the years digits depreciation. MNO will adopt this practice. On the consolidated statement of financial position at December 31, 2021, what the depreciation expense?

Reference no: EM132977072

Questions Cloud

What constant amount could withdraw each quarter : If you have $30,000 in an account earning 7.2% quarterly, what constant amount could you withdraw each quarter so that the outstanding balance

Determine the amount of liability at December : Determine the amount of liability at December 31, 2016 for each of the following independent cases: Customers advances, 12/31/15 P 500,000

Does mortgage obtained get recorded as an investing activity : Does the mortgage obtained get recorded as an Investing Activity in the cash flow statement OR does the mortgage simply get recorded as a liability

How much do need to pay every month : How much do you need to pay every month? You are granted a personal car loan for the total borrowing amount of $20,000 over 5 years.

What the depreciation expense : MNO will adopt this practice. On the consolidated statement of financial position at December 31, 2021, what the depreciation expense

Explain pt ayah accounting treatment bove : PT Ayah bought 15% of the outstanding shares of PT Sandang. Explain PT Ayah's accounting treatment for each of the above investments based on ifrs.

Prepare the appropriate adjusting journal entry : Prepare the appropriate adjusting journal entry(s) that Intention Incorporated would make on May 31, 2013 to account for the delivery

Which project should be selected for expansion plan : If project A and project B are mutually exclusive and Claremont Building Ltd has not constraint on funding, which project should be selected for expansion plan?

Objective of the performance plan : Objective of the performance plan is to focus on the organisations key goals and objectives in line with ‘Service standards statement' available in the toolbox.

User Account

All Pages

What the depreciation expense

Reference no: EM132977072

Reference no: EM132977072

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT