Which one of the options should ostoher inc select in order

Assignment Help Accounting Basics
Reference no: EM132766690

Problem 1: Maria Hill Inc. owns a fleet of over 100 cars and 20 ships. It operates in a capital-intensive and thus has significant other property, plant and equipment that it carries in its books. It decided to revalue its property, plant and equipment. The company's accountant has suggested the alternatives that follow. Which one of the options should Ostoher Inc. select in order to be in line with the provision of PAS 16?

a) Revalue only one-half of each class of property, plant, and equipment, as that method is less cumbersome and easy compared to revaluing all assets together.
b) Revalue one ship at a time, as it is easier than revaluing all ship together.
c) Revalue an entire class of property, plant and equipment.
d) Since assets are being revalued regularly there is no need to depreciate.

Reference no: EM132766690

Questions Cloud

Prepare partial Statement of Cash Flows for Somerset Company : Common Stock exchanged for outstanding Long Term Notes Payable of $150,000. Prepare partial Statement of Cash Flows for Somerset Company
What are the key considerations : When dispatching payments to government authorities accurately and in accordance with relevant government legislation, what are the key considerations?
What is involved in preparing and reconciling employee group : What is involved in preparing and reconciling employee group certificate amounts from salary records? Be sure to include an explanation
Compare pros and cons of 3g and 4g technology : Compare the pros and cons of 3G and 4G technology to determine the best uses of 3G and 4G technology in today's applications.
Which one of the options should ostoher inc select in order : Maria Hill Inc. owns a fleet of over 100 cars, Which one of the options should Ostoher Inc. select in order to be in line with the provision of PAS 16?
What is the nature of the liability to be : What is the nature of the liability to be? How Newmont Mining Corporation reclamation and remediation liabilities
The value of studying ethics in leadership : Incompetent leaders can't be ethical leaders. It is possible to use transformational leadership strategies to reach unethical objectives.
Compute the duration : Question - A 4-year bond with $100 face value pays a $7 coupon each quarter and has 10% yield. Please compute the duration
What might the philosophers from the unit : What might the philosophers from this unit (Anselm, Pasley, Pascal, or Kierkegaard) say in response? Would they agree or disagree? Why?

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.

  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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd