28. If an entity as lessee presents as investment property a property interest held under an operating lease then the entity has the option of measuring some items of investment pronerty using the cost modol
Q: Nevada Company provided services with a list price of $48,500 to Small Enterprises with terms 2/15,…
A: Formula: Net cash received = List price - discount where, Discount = List price x discount rate
Q: ne member of a
A: Capitalize Cost = FC + OMi+RC -SV(1 + i)n-1
Q: Pierce, a single taxpayer, sold his home this year. He had owned and lived in the house for 10…
A: A recognized gain occurs when an investment or item is sold for a higher price than it was…
Q: hrough two producing departments. Model A's production is much more labor- ntensive than Model B's.…
A: "Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: ,700
A: Interest refers to the compensation paid for using someone else money. the borrower pays the…
Q: 1. Compute 2022 net periodic pension expense.
A: Companies makes the funds which are specially designed with the purpose of making the life of the…
Q: Assume the University of Morton and McColl (could be public or private) calculates gross tuition and…
A: Journal Entries is the method to record transactions within the accounting records of the business.…
Q: On 30 June 2023, the end of the current reporting period, Master Ltd decided, using the information…
A: Depreciation charged in two previous years = 100000/10 = 10000 each year WDV = 80000 Depreciation =…
Q: expect a share of EconNews.Com to sell for $65 a year from now. If you are willing to pay $65.74 for…
A: when calculating the dividend expected of a stuff it is important to consider the growth prospect of…
Q: On January 1, a company agrees to pay $12,000 in eight years. If the annual interest rate is 4%,…
A: Present value (PV) which is the concept of accounting that states the sum amount today that is…
Q: Asap Impact of the Financial Accounting Standard Board
A: The Financial Accounting Standards Board was formed to develop reporting standards. It is one of the…
Q: explain the cost management information system's two major subsystems
A: The cost management information system's primary goal is to generate outputs for internal users. To…
Q: If this was a BELO plan with a pay rate of $23.45 per hour and a maximum of 48 hours, how much would…
A: Payroll costs refers to the costs which involves the employees salaries and the wages involving the…
Q: If sales equal $320,960, variable expenses equal $200,000, and the degree of operating leverage is…
A: Solution.. Sales revenue = $320,960 Variable cost = $200,000 Contribution margin = Sales -…
Q: $ 9.50 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead…
A: The minimum price to be charged for the special order will be based on the Relevant Cost. Relevant…
Q: A patient is admitted for appendectomy. His PhilHealth will cover up to PHP 24,000. His entire…
A: The answer is stated below:
Q: 5.) Ollie Inc. has book income of $250,000. The following information is available: a. Ollie…
A: Introduction Corporations has to show reconciliation of income or losses and analysis of…
Q: Find the salvage value of an asset which has FC of P150 000 and economic life of 7 years. Using the…
A: Sum of years digits of useful life = 1 + 2 + 3 + 4 + 5 + 6 + 7 = 28 Remaining useful life on 5th…
Q: 30. A building previously occupied by Grand Company with a cost of P10 million and an accumulated…
A:
Q: What is the initial measurement of foreign currency transaction? Closing rate for both monetary…
A: Foreign Currency Transaction: It occurs when a company makes a transaction that is denominated in a…
Q: st pool is $0.76 per guest. (The greater the numb tivity rate for the Complexity-Related cost pool…
A: Breakeven is when the cost is equal to the sales revenue. There is no profit or loss in case on…
Q: Q1a. Allocate the service department costs to the two operating departments using the direct method.…
A:
Q: the following alternatives. (Refer to Exhibit 25-1 and Exhibit 25-2.) (Enter your answers in dollars…
A: The answers have been mentioned below.
Q: orting entity remai ed company's perfo d in the parent's fin
A: To find the correct option as,
Q: explain and describe the various costing method in management accounting.outline their advantagesand…
A: Using product costing procedures, a cost is allocated to a product. The most frequent costing…
Q: 2021 statement of financial position of
A: Share refers to the portion held by the shareholder from the total share capital. The holder of the…
Q: How did you get 15,200 on part a for equipment instead of 15800? How did get 14200 for equip for…
A: 1)How did you get 15,200 on part a for equipment instead of 15800 Answer:- In part "A" Total credit…
Q: For part 2, do "written off" and "previously written off accounts collection" fall under debit or…
A: Allowance for Uncollectible accounts, Jan 1, 2021 has a credit balance of $2,000. Now, written off…
Q: Problem 13.3A (Static) Preparing classified financial statements. LO 13-1, 13-2, 13-3 The Enoteca…
A: Financial statements are the reportable summaries which includes the components like revenues and…
Q: ou are a project manager for the Swirling Seas Cruises food division. You’re considering two…
A: Payback period is the time required to recover the investment made in a project. Formula: Payback…
Q: The ember 31, 2021.
A: Depreciation will be accumulated in that a/c until asset is sold, and later while on selling cost of…
Q: 4.2 Accounting Agency Corporation provides primarily two kinds of services: accounting and tax.…
A: Breakeven sales revenue is that level of sales at which business is only recovering it's fixed costs…
Q: Hufflepuff Corporation (a C corporation) had current and accumulated E&LP of $500.000 as of December…
A: The answer is stated below:
Q: Net unrealized loss on available for sale securities (investment at FVTOCI) 20,000 Retained…
A: Total shareholders' equity A company's shareholders' equity can be calculated by subtracting total…
Q: The T-account below shows the balance sheet of Santander. Assets Reserves Loans Securities $200…
A: Introduction Net worth is the difference between what is owned and what is owed, that is it is total…
Q: State the equation for computing the total budgeted costs for the ironing department.
A: Total costs is the combination of fixed costs and variable costs. The equation for computing the…
Q: The following information was taken from Logsden Manufacturing's trial balances as of December 31,…
A: The Gross Profit Margin Ratio is calculated by dividing Gross Profit by Net Sales. In other words it…
Q: purchased 20% of the shares of Red Co. for P4,000,000 on July 1, 2020 Pink Co bas a significant…
A: Pink acquied 20% shares of Red Co. for P 4,000,000 on Jul 1 ,2020…
Q: Manually journalize the following: a. Bank transfer from any bank to 1612CN amounting P30,000 b.…
A: Journal entries represent the activity of identifying and recording day-to-day business-related…
Q: ABC Corporation reported the following income and expenses from business for year 2018: Cash…
A: Advance from customers and prepayments are not considered in calculating taxable income for the…
Q: A friend of yours is interested in purchasing a motor vehicle with at a cost of $3.5 million. The…
A: The spending required to generate and sell products and services, or to acquire assets, is referred…
Q: Christopher, a staff auditor of the Sycip, Gomez, Velayo & Co. took and passed the examination for…
A: Residency in the countries are applicable when an individual fulfils the conditions given by the…
Q: For 2020, Sweet Inc. computed its annual postretirement expense as $234,100. Sweet’s contribution to…
A: Post-retirement benefit expense is the cost of pension recognized for the period. When determining…
Q: Dynondo incorporated planned to use materials of 8 per unit but actually used materials of $16 per…
A: Ans. A flexible budget variance is calculated by comparing the cost per unit while budget is made…
Q: How did you get to the 65,000? What number do you add or subtract?
A: Selling price for special order = $50 - 16% = $42 Fixed manufacturing overhead & Fixed selling…
Q: The Engine Division provides motors for the Auto Division of a Company. The standard unit costs for…
A: Introduction:- Transfer pricing means to the prices of goods and services are exchanged between…
Q: a) Using the Throughput Accounting method, determine the optimal production schedule, and…
A:
Q: 3: Company B purchases a vehicle on January 1st for $120,000. The vehicle has a useful life of 3…
A: Under double declining balance method, the depreciation is charged on the declining balance at…
Q: 2. Lynx Oll Company has 3 wells on a lease in Texas and is the only working interest owner. Indirect…
A: Indirect cost of 75,000 is required to be allocated between 3 wells on the basis of volume of oil…
Q: True/False ____ 18. The stock dividends distributable account is listed in the current…
A: Note: As per the norms of Bartleby, in case of multiple sub parts been asked, answer to only first 3…
Step by step
Solved in 2 steps
- If an entity as lessee presents as investment property a property interest held under an operating lease then the entity 1has the option of measuring some items of investment property using the cost model. 2shall measure in the financial statement all of its investment property using the fair value models 3shall measure that leased property interest under the fair value model and the remaining investment property using the cost model. 4shall measure that leased property interest under the cost model and the remaining investment property either using the cost model or the fair value model.Explain how an entity would initially and subsequently measure its right-of-use asset and lease liability if the leased asset is classified as investment property under the fair value model? Assuming the fair value of the asset is not given at the end of the period, how will it be best computed? Compare and contrast the lease-related expenses if the entity uses the cost model and fair value model for its right-of-use asset.2. Which of the following qualifies for classification as an investment property? a. Property that is currently being developed for future use as investment property b. Property that is leased out to another entity under a finance lease c. Building being rented from another entity and leased out under various operating sub-leases d. Investment property that is currently being developed for future use as owner-occupied property
- Investment property includes all of the following, EXCEPT:A. For sale in the ordinary course of businessB. Land held for capital appreciationC. For use in production of goods and services and for amdinistrative purposesD. Land held for currently undetermined useWhen a property dividend is declared and the book value of the property exceeds its market value, the dividend is recorded at the O Book value of the property at the date of distribution if it still exceeds the market value of the property at the date of declaration. O Market value of the property at the date distribution. O Book value of the property at the date of declaration. O Market value of the property at the date of declaration.The amount of gain (loss) on sale and leaseback transaction is: Group of answer choices The difference of the fair value of rights retained by the lessee and the carrying value of right-of-use asset. The difference of the fair value of rights transferred to the lessor and carrying value of rights transferred to the lessor. The difference of fair value and carrying of the underlying asset. The difference of the fair value of rights retained by the lessee and the carrying value of rights transferred to the lessor.
- Distinguish between the “cost model” and “fair value” model of accounting for investment property.Under IFRS, disclosure for an investment property must include which of the following? Question 11 options: a) For investment properties measured using the fair value model: additions during the period, net gains or losses, and transfers to and from inventories. b) For investment properties measured using the fair value model: whether fair values used were based on valuations by an independent valuator, useful lives of properties, and transfers to and from inventories. c) For investment properties measured using the cost model: the depreciation method used, the useful lives of the properties, depreciation, and net gains or losses from fair value adjustments. d) For investment properties measured using the fair value model: amounts recognized in profit or loss for rental income and direct operating expenses, useful lives of investment properties.An entity starts the capitalization of borrowing costs to the cost of a qualifying asset when * A. Expenditures for the asset are being incurred. B. Borrowing costs are being incurred. C. Activities necessary to prepare that asset for its intended use or sale are being undertaken. D. All of the above conditions are met.
- In a sale-leaseback transaction, the right-of-use asset is computed as: a. Rights retained by the lessor multiplied by rights retained by the lessee divided by FV of the asset. b. Carrying value of the asset multiplied by the FV of rights retained by the lessee divided by fair value of the asset. c. Lease liability multiplied by useful life divided by total fair value of the asset. d. FV of rights retained by the lessee multiplied FV of the asset divided by carrying value of the asset.Investment Property can be classified under the following methods except? Cost Cost and Fairvalue Fair Value Non of the GivenIf a company uses the fair value model to value investment property, changes in the fairvalue of the asset are least likely to aff ect:A. net income.B. net operating income.C. other comprehensive income.