User Account

All Pages

What the initial cost of the new equipment is

Assignment Help Accounting Basics
Reference no: EM132704412

Henry Company acquires equipment (EQ 14) in exchange for equipment (EQ 9) plus cash of P160,000. The carrying and fair value of EQ14 and EQ9 at the date of the exchange are as follows:

                                                       EQ 14                 EQ 9
Equipment                               P500,000          P320,000
Accumulated depreciation           175,000           180,000
Fair value of equipment               335,000           185,000

The configuration (risk, timing and amount) of the cash flows are determined to be significantly different.

Question 1: The initial cost of the new equipment is ?

Question 2: The gain (loss) recognized in relation to the exchange is ?

Reference no: EM132704412

Questions Cloud

What would recommend to amazon leadership : What would recommend to Amazon's leadership? Amazon acquired grocery giant Whole Foods in 2017 in a blockbuster deal, but one consequence
What is the role of spores in infections : What is the role of spores in infections? Describe the general distribution of spore forming bacteria?
Calculate Ted realized gain and recognized gain : On December 15, 2018, Ted purchases and occupies a new residence at a cost of $175,000. Calculate Ted's realized gain, recognized gain
Describe the role lambda regulatory sequence prm : Describe the role Lambda regulatory sequence PRM (you can include a sketch if you wish). What is the impact on the Lambda lifecycle if this sequence
What the initial cost of the new equipment is : What the initial cost of the new equipment is? The configuration (risk, timing and amount) of the cash flows are determined to be significantly different.
Basis of selective toxicity in inhibiting dna synthesis : 1. Describe two ways in which combination therapies can help combat resistant organisms.
Describe the first lines of defenses : Describe the first lines of defenses in each of the following organs and organ systems.
Calculate Jocasta adjusted basis in the building : Jocasta owns an apartment complex that she purchased 6 years ago for $750,000. Calculate Jocasta adjusted basis in the building
What impact did sarbanes-oxley have on a company : What impact did Sarbanes-Oxley have on a company's internal controls? Define internal controls and discuss the basic principles for assessing internal controls.

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