How much is the revaluation surplus for the period ended December 31, 2022?
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An asset was acquired on January 1, 2020 for P800,000 and is expected to have a 5-year useful life. The straight-line method was used. On January 1, 2022, the asset was deemed to have a sound value of P720,000.
How much is the revaluation surplus for the period ended December 31, 2022?
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- On 31 December 2013, the fair value of the asset less costs to sell was OMR 50,000 and the expected fu for the next five years. The current cost of capital is 10% and a five-year annuity of OMR 1 per annum at 3-79. What is the present value of future cash flow of the asset? O a. OMR 45,000. O b. OMR 50,000. O c. OMR 37,900.On October 1, 2022, Abbott Inc. purchased equipment costing $700,000 by paying $150,000 cash and signing a $550,000, 10%, 1-year note for the remainder. The face value of the note plus interest is due when the note matures in one year. The equipment will be used in a variety of R&D activities. It is expected to have a useful life of 5-years and a residual value of $20,000. Abbott uses the DDB method for the equipment. Required: In the journal below, record the equipment purchase on October 1, and record depreciation and accrued interest for 2022. Round all calculations to the nearest whole month and whole dollar.• X Company purchases equipment for $120,000 on January 1, 2020. The equipment is estimated to last for 5 years with a residual value of $20,000. Using double-declining balance, depreciation expense for the year ended December 31st, 2022 will be: O $20,000 O $26,667 $28,800 O $17,280
- Fair value of plan asset, January 1, 2014 2,000,000Total actual return on plan asset: Interest income – actual 200,000 Gain on remeasurement 100,000 300,000Tax rate on defined benefit 15%Expected rate of return on the asset 7%Discount rate 6%Contribution during the year 500,000 What is the fair value of the plan asset as of December 31, 2014?D1.8
- Vilma Company has estimated that total depreciation expense for the yearended December 31, 2020 will amount to P250,000. As of the beginningof the year, the company had fixed assets amounting to P2,000,000 andacquired additional fixed assets of P1,000,000 on July 1, 2020. Theestimated useful life is for 10 years. The 2020 year-end bonuses toemployees will total P600,000. In Vilma’s interim income statement for thesix months ended June 30, 2020, what total amount of expense relating tothese two items should be reported?A property that produces a first year NOI of $18,000 is purchased for $135,000. The NOI is expected to increase by 7% in the fourth year when some of the leases turnover. The resale price in year 8 is expected to be $149,000. What is the net present value of the property based on the 8-year holding period and a discount rate of 12%? Answer: NPV = $17,829 How do you set this up in excel?2. If an asset costs $70,950 and is expected to have a salvage value of $949 at the end of five year life, and generates annual cash net cash inflows of $4,447 each year, the cash payback period rounding to two decimal places is
- K On January 1, 2020, QuickAir Transportation Company purchased a used aircraft at a cost of $52,400,000 QuickAir expects the plane to remain useful for five years (7,000,000 miles) and to have a residual value of $6,400,000 QuickAir expects to fly the plane 925,000 miles the first year, 1,300,000 miles each year during the second, third, and fourth years, and 2,175,000 miles the last year. Read the requirements Using the straight-line method, depreciation is $ 9,200,000 for 2020 and $9,200,000 for 2021 b. Units-of-production method (Round the depreciation per unit of output to two decimal places to compute your final answers.) Using the units-of-production method, depreciation is $ 6,077,250 for 2020 and $ 8,541,000 for 2021. c. Double-declining balance method Using the double-declining-balance method, depreciation Book Value: CELE 2. Show the airplane's book value at the end of the first year under each method Less Book Value Etext pages Get more help $ 20,960,000 for 2020 and $…24. Using a MARR of 15%, determine the annual worth of packaging equipment having an initial cost of P830 000, a 10-year life, and a salvage value of P140 000.00. A net revenue of P250 000.00 per year is expected from this equipment. (Ans. P91 516.08)View Policies Current Attempt in Progress The following transactions occurred during 2025. Assume that depreciation of 10% per year is charged on all machinery and 5% per year on buildings, on a straight-line basis, with no estimated salvage value. Depreciation is charged for a full year on all fixed assets acquired during the year, and no depreciation is charged on fixed assets disposed of during the year. Jan. 30 Mar. 10 Mar. 20 May 18 June 23 A building that cost $168,960 in 2008 is torn down to make room for a new building. The wrecking contractor was paid $6,528 and was permitted to keep all materials salvaged. Date Machinery that was purchased in 2018 for $20,480 is sold for $3,712 cash, f.o.b. purchaser's plant. Freight of $384 is paid on the sale of this machinery. A gear breaks on a machine that cost $11,520 in 2017. The gear is replaced at a cost of $2,560. The replacement does not extend the useful life of the machine but does make the machine more efficient. L A special…
