The ending net book value of Property. Plant&Equipment (PP&E) in year 1 and year 2are $5000 and $430,000 respectively on Company A's balance sheet The company's depreciation experse inyear 2is $90,000. Whatis Company A's net apital expenditure? 0 a. $16000 Ob $90000 O $34000. O $200
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- A SE company has on its books for its proved property: P/P- tangible assets $50,000 Well and E&F $220,000 Accumulated DD&A $32,000 If the entire proved property is sold for $220,000, what will be any gain or loss? AccouintingProblem 17-10 (AICPA Adapted) P7,000,000.. of the acquired net assets was P6,000,000. The excess of cost over carrying amount was attributed i. an identifiable intangible asset which was undervalued investee's statement of financial positión and which had . remaining useful life of ten years. on The investee reported net income of P1,800,000 for the current year and paid cash dividend of P600,000 on the ordinary shares. What is the carrying amount of the investment in associate at year-end? a. 6,780,000 b. 7,140,000 c. 7,000,000 d. 6,900,000Consider the following data on an asset:Cost of the asset. I $ 120,000Useful life. N 5 yearsSalvage value. S $30.000Compute the annual depreciation allowances and the resulting book valtu.:s.using the following methods:(a) The straight-line depreciation method(b) TI1e declining-balance method
- AN entity acquired plant and equipment for $1 million on 1st January 20X9. The asset is depreciated at 25% a year on straight-line method and tax legislation permits to depreciate the assets at 30% a year for tax purpose. Tax rate is 30%. Calculate any DTL that might arise on the plant and equipment at 31/12/X9. a. $90 000 b. $15 000 c. $75 000 d. $300 0009. These are the books of Riya Distributers as at 28 February 2021. Equipment R20 000, Accumulated Depreciation R16 000. Depreciation is calculated at 20% p. a. on a diminishing method. An old equipment was disposed for R1 500 cash on 1 December 2020. The equipment originally costed R3 000. The Accumulated depreciation is R 700. The depreciation for the disposed equipment is A.R460 B.R345 C.R225 D.R92 10. These are the books of Riya Distributers as at 28 February 2021. Equipment R20 000, Accumulated Depreciation R16 000. Depreciation is calculated at 20% p. a. on a diminishing method. An old equipment was disposed for R1 500 cash on 1 December 2020. The equipment originally costed R3 000. The Accumulated depreciation is R 700. The profitloss for the disposed equipment is A.Profitloss R300 B.Profit/loss R92 C.Profit/loss R455 D.Profit/loss R46020. The comparative statements of financial position of Andant a. 689,018 position of Andan Date: Aug 20. The comparative statements of financial Co. show the following information: 20x2 AR 20x1 2,500,000 1,000,000 Buildings Accumulated depreciation PROJE (200,000) (200,000) LOCAT OWNE During 20x2, Andante Co. sold an old building with historical cost of P800,000 for P260,000 and appropriately recognized a loss of P40,000 on the sale. How much are the (1) cost of acquisitions of building and (2) depreciation expense recognized in 20x2? a. 2,300,000; 0 b. 2,300,000; 500,000 ARCHI Dear S c. 1,500,000; 0 d. 1,500,000; 200,000 Archite STOP at profes
- Given, Mo = Rp. 1,500,000,- i Depreciation = 5% i Interest = 8% Calculate the amount of depreciation expense and interest at the end of year 3 based on Purchase AmountP10.5A Journalise a series of equipment transactions related to purchase, sale, retirement, and depreciation At December 31, 2021. Grand Regency Limited reported the following as Non-current tangible assets: 4,000,000 16,400,000 June 11 July 1 Dec. 31 Land Buildings Less: Accumulated depreciation - buildings Equipment Less: Accumulated depreciation - equipment Total plant assets During 2022, the following selected cash transactions occurred. April 1 Purchased land for R2,130,000. May 1 (b) (c) (d) 28,500,000 12,100,000 48,000,000 5,000,000 Required: (a) 43,000,000 £63,400,000 Sold equipment that cost R750,000 when purchased on January 1, 2018. The equipment was sold for R450,000. Sold land purchased on June 1, 2012 for R1,500,000. The land cost R400,000. Purchased equipment for R2,500,000. Retired equipment that cost R500,000 when purchased on December 31, 2012. No salvage value was received. Prepare general journal entries the above transactions. The company uses straight-line…Equipment R20 000, Accumulated Depreciation R16 000. Depreciation is calculated at 20% p. a. on a diminishing method. An old equipment was disposed for R1 500 cash on 1 December 2020. The equipment originally costed R3 000. The Accumulated depreciation is R 700.The profit/loss for the disposed equipment is _________.A. Profit/loss R300B. Profit/loss R92C. Profit/loss R455D. Profit/loss R460
- onsider the following data on an asset:Cost of the asset, I $235,000Useful life, N 5 yearsSalvage value, S $ 60,000Compute the annual depreciation allowances and theresulting book values, using(a) The straight-line depreciation method.(b) The double-declining-balance methodThe ending net book value of Property, Plant & Equipment (PP&E) in year 1 and year 2 are $500,000 and $430,000 respectively on Company A's balance sheet. The company's depreciation expense in year 2 is $90,000. What is Company A's net capital expenditure?TB MC Qu. 08-117 An asset's book value... An asset's book value is $18,000 on December 31, Year 5. The asset has been depreciated at an annual rate of $3,000 on the straight-line method. Assuming the asset is sold on December 31, Year 5 for $15,000, the company should record: