n January 1, 2015, Wanja Lim

On January 1, 2017, Jace and Naya Corporation acquired equipment at a cost of ₱1,800,000. Jace and Naya adopted the sum-of- the-years’-digits method of depreciation for this equipment and had been recording depreciation over an estimated life of eight years, with no residual value. At the beginning of 2020, a decision was made to change to the straight-line method of depreciationfor this equipment. The depreciation expense for 2020 would bea. ₱150,000 c. ₱360,000b. ₱93,750 d. ₱225,000

On January 1, 2018, Ackerman sold equipment to Brannigan (a wholly owned subsidiary) for $150,000 in cash. The equipment had originally cost $135,000 but had a book value of only $82,500 when transferred. On that date, the equipment had a five-year remaining life. Depreciation expense is computed using the straight-line method. Ackerman reported $510,000 in net income in 2018 (not including any investment income) while Brannigan reported $167,300. Ackerman attributed any excess acquisition-date fair value to Brannigan's unpatented technology, which was amortized at a rate of $6,100 per year. a. What is consolidated net income for 2018? b. What is the parent's share of consolidated net income for 2018 if Ackerman owns only 90 percent of Brannigan? c. What is the parent's share of consolidated net income for 2018 if Ackerman owns only 90 percent of Brannigan and the equipment transfer was upstream? d. What is the consolidated net income for 2019 if Ackerman reports $530,000 (does not…

Alankar Ltd. commenced business on 1st January 2018, when they purchased plant and equipment for 9,00,000. They adopted a policy of charging depreciation at 15% per annum on diminishing balance basis and over the years, their purchases of plants have been as follows01/01/2019 - Rs. 3,50,000 01/01/2022 - Rs. 4,00,000 On 1/1/2022 it was decided to change the method and rate of depreciation to straight line basis. On this date remaining useful life was assessed as 6 years for all the assets purchased before 1/1/2022 with no scrap value and 10 years for the asset purchased on 1/1/2022. Prepare depreciation schedule for 5 years. Books of accounts are closed on 31st December every year.