Alaska Limited has a written down value of machinery as 90,000 at the end of the year 2021. The machinery is the only asset in the pool. The repairs and improvement cost incurred during the year was 6000 cedis? How much of the repairs and improvement cost will be capitalized? O A. 4,500 cedis. B. 6,000 cedis C. 1,500 cedis . D. 9,000 cedis O E. 10,000 cedis
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- The capitalized cost of a piece of equipment was found to be P145,000.00. The rate of interest used in the computations was 10%, with a salvage value of $10,000.00 at the end of a service life of 8 years. Assuming that the cost of perpetual replacement remains constant. Determine the original cost of the equipment A.P82,021.50 B. P68,021.50 C. P78,021.50 D. P92,021.50A depreciable property costing P1,400,000 with original residual value of P80,000 after 10 years, had been revalued at a replacement cost of P1,680,000 with residual value of P20,000. The age of the asset is four years when it was revalued. What is the revaluation surplus? Please answer it complete using good accounting form. Thank you4. Prepare journal entry on January 1, 2027 to record the return of the machinery to the lessor. Assume thefair value of the asset is P300,000
- ABC Corporation acquired an asset for a purchase price of P1,200,000. This is expected to appreciate every yearby 5%. The entity will be incurring P50,000 cost to dispose the asset by the end of its 20-year investment period. If the cost to finance this investment is 4%, what is the intrinsic value of the asset after accounting for the cost of illiquidity? a. P1,583,626.69 b. P1,430,297.18 c. P8838,969.98 d. P972,129.05 e. None among the other choicesCompany E. purchased equipment for 100,000 on 1/1/2020. The depreciation expense on the equipment was 10,000 for 2020 and 10,000 for 2021 and 10000 for 2022. The residual value of the equipment is 10,000? At 12/31/2022 what is the book value of the equipment? A. 100,000 B. 90,000 C. 80,000 D. 70,000 E. None of the aboveCompany C. purchased equipment for 100,000 on 1/1/2020. The depreciation expense on the equipment was 10,000 for 2020 and 10,000 for 2021. The residual value of the equipment is 10,000. At 12/31/2021 what is the book value of the equipment? A. 100,000 B. 90,000 C. 80,000 D. 70,000 E. None of the above
- Adista has land that was purchased in cash on January 2, 2018 at a cost of IDR 1,000,000,000. Requested: a. PT Adista decided to use the revaluation model for the land (which is a fixed asset). On December 31, 2018, the company recognized a revaluation surplus of the land amounting to Rp 100,000,000. If on December 31, 2019 it is known that the fair value of the land is IDR1,060,000,000, make a journal entry recorded by PT Astina regarding the land in 2019. b. Describe how the accounting treatment differs between the fixed asset revaluation model and the fair value model of investment property.Identify how much to add or deduct from the Investment in Associate account of ABC based on the following transactions or events: The fair value of an equipment held by X is P500,000 while its carrying value is P360,000 as of the beginning of the year. It has a remaining useful life of 3 years as of Dec. 31, 2021. X sold inventories costing P150,000 to ABC for P200,000. Only 75% of these inventories were sold by ABC to third parties as of the end of the year.14. Bronze Company operates a production line which is treated as a cash generating unit. At year end, the carrying amounts of the noncurrent assets of the cash generating unit are: Goodwill 1,100,000 Plant and machinery 2,200,000 At year end, the recoverable amount of the production line is estimated at 2,700,000. What are the revised carrying amounts of the goodwill and plant and machinery, respectively?
- A depreciable property costing P1,400,000 with original residual value of P80,000 after 10 years, had been revalued at a replacement cost of P1,680,000 with residual value of P20,000. The age of the asset is four years when it was revalued. What is the revaluation surplus?The capitalized cost of a new printing equipment was found to be P426,000.00. The rate of interest was 12%, with a salvage value of P30,000.00 at the end of a service life of 8 years. Assuming that the cost of perpetual replacement remains constant, determine the original cost of the equipment. Answer. P266,062.262. An industrial plant bought a generator set for P90,000. Other expenses including installation amounted to P10,000. The generator set is to have a life of 17 years with a salvage value at the end of life of P5,000. Determine the depreciation charge during the 13th year and the book value at the end of 13 years by: a. Declining Method b. Double Declining Balance Method c. Sinking Fund Method d. SYD Method Interest is at 12%.