User Account

All Pages

What will be the total amount capitalised

Assignment Help Financial Accounting
Reference no: EM132652415

Foster has built a new factory incurring the following costs:

000

Land                             1,200

Materials                       2,400

Labour                           3,000

Architect's fees                  25

Surveyor's fees                  15

Site overheads                  300

Apportioned administrative overheads   150

Testing of fire alarms                  10

Business rates for first year                  12

                                                     7,112

Question a. What will be the total amount capitalised in respect of the factory?

Question b. List the costs that are not capitalized as assets? State the reasons why they are not capitalized as assets (Hint: refer to the asset definition and recognition)? What are the accounting treatments for those costs?

Reference no: EM132652415

Questions Cloud

Find out the highest possible expected return : What investment has the highest possible expected return while having the same volatility as Amazon? What is the expected return of this investment?
Create the journal entries using the full - cost method : In 2019 Oil is discovered at the Labasa site. Tavua Site is abandoned. Create the journal entries using The full - cost method
Determine realized compound yield to maturity : What will be the realized compound yield to maturity if the 1-year interest rate next year turns out to be: a) 3%, b) 5%, c) 8%?
Compare personal leadership styles of your group members : Compare the personal leadership styles of your group members, including commonalities between group members' strengths and weaknesses.
What will be the total amount capitalised : Why they are not capitalized as assets (Hint: refer to the asset definition and recognition)? What are the accounting treatments for those costs?
Affect standards for network security : What do you think were the critical factors that fueled the need for IT governance? In what ways did ISO affect the standards for network security?
What is meant by property development : What is meant by 'property development' under MFRS 201 Property Development Activities. What is the role for property development in accounting.
What is the interest earned by the depositors : What is the interest earned by the depositors on the following deposits: RM 800 for 2 years 8 months at an interest of 6% compounded monthly
Find out the fundamental analysis of share prices : Explain how you use the top-down approach for fundamental analysis of share prices.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Prepare the journal entry for bonita for the sale

Prepare the journal entry for Bonita for the sale of the first 88 stations. The cost of each station is $49. (Credit account titles are automatically indented)

  What is the amount of incentive pay

The number minutes transcribed is 1,200, minimum required biweekly production is 1,200, what is the amount of her incentive pay?

  Prepare the capital accounts of partners in column format

Prepare the capital accounts of the partners in column format and balance the accounts properly. Croissant, Muffin and Crème Danish

  What is the project npv

A project has an initial cost of $66,350, expected net cash inflows of $11,000 per year for 11 years, and a cost of capital of 9%. What is the project's NPV?

  What are common stockholders residual claims to earnings

What are the common stockholders' residual claims to earnings? What are the common stockholders' legal, enforceable claims to dividends?

  Prepare journal entries to record the preceding information

Prepare journal entries to record the preceding information.-  Show how the preceding items are reported on the December 31, 2007 balance sheet of the Terry Company.

  Calculate operating cash flow to total debt ratio from data

Calculate operating cash flow to total debt ratio from the data and comment on the trends from year 2008 to 2009. Calculate operating cash flow per share

  Compute the expected operating profit

Compute the expected operating profit for 2021. Compute the margin of safety for 2021. Compute the break-even point in dollars.

  Income available to common stockholders be calculated

Wood Co.'s dividends on noncumulative preferred stock have been declared but not paid. Wood has not declared or paid dividends on its cumulative preferred stock in the current or the prior year and has reported a net loss in the current year. For the..

  What is the balance in the notes payable account

Wolford Company borrowed $1,000,000 from U.S. Bank on January 1, 2013 in order to expand its mining capabilities. The five-year note required annual payments of $260,436 and carried an annual interest rate of 9.5%. The annual payments are to be made ..

  Comprehensive income statement for the year ended

Held for Sale and Discontinued Operations requires companies to disclose results for both continuing and discontinued operations - Prepare for Vroom plc a Comprehensive Income Statement for the year ended 31 March 2011

  What is the stock current price per share before change

After the change, your before-tax cost of debt will be 11% and the cost of equity will be 16.5%. What is the stock's current price per share before change?

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