Determine that the plant assets have a fair value

Assignment Help Cost Accounting
Reference no: EM13532063

At the end of its first year of operations, Brianna Company chose to use the revaluation framework allowed under IFRS. Brianna"s ledger shows Plant Assets $480,000 and Accumulated Depreciation-Plant Assets $60,000. Prepare journal entries to record the following.

(a) Independent appraisers determine that the plant assets have a fair value of $460,000.

(b) Independent appraisers determine that the plant assets have a fair value of $400,000.

Reference no: EM13532063

Questions Cloud

Compute delzers return on assets ratio : Compute Delzers return on assets ratio, profit margin ratio, and asset turnover ratio, both with and without the new product line and discuss the implications that your findings in part (a) have for Delzer"s decision.
Explain what are the units of v and calculate its frequency : If the wavelength ( ) of a light wave is 5.0 x 10^-6 meter, calculate its frequency (V). Use c = ?V width c = 3.0 x 10^8 m/sec. What are the units of V
Calculate what vertical height does the puck reach : a 200g hockey puck is launched up a metal ramp that is inclined at a 30° angle. what vertical height does the puck reach above its starting point
Obtain the maximum torque on the wire : A wire is formed into a circle having a diameter of 11.2 cm and is placed in a uniform magnetic field of 3.22 mT. Find the maximum torque on the wire
Determine that the plant assets have a fair value : Prepare journal entries to record the Independent appraisers determine that the plant assets have a fair value of $460,000.
Climate effect global warming include : J-shaped population patterns are often seen. the first trimester of prenatal human development. climate effect global warming include
Calculate the molar mass of menthol : Menthol is a crystalline substance with a peppermint taste and odor. When 1.65 g of menthol is dissolved in 25.0 g of cyclohexane, the freezing point of the solution is lowered by 8.78 °C. The freezing point and Kf constant for cyclohexane can ..
Determine what is the angle relative to the east : An 8.05 kg mass moving east at 13.7 m/s on a frictionless horizontal surface collides with a 11.3 kg mass that is initially at rest. What is the angle relative to the east
Record research and development costs : Technological feasibility and $200,000 after technological feasibility had been demonstrated. Prepare the journal entry to record research and development costs.

Reviews

Write a Review

Cost Accounting Questions & Answers

  Accounting for bad debt expense

Accounting for bad debt expense

  How will the u.s. company report the forward contract

Draft a memo to a client comparing the advantages and disadvantages of using forward contracts and options to hedge foreign exchange risk.

  Lemmon cos 31st march inventory of raw materials is 150000

lemmon co.s 31st march inventory of raw materials is 150000. raw materials buys in april are 410000 and factory payroll

  Popper co acquired 80 percent of the common stock of cocker

popper co. acquired 80 percent of the common stock of cocker co. on 1st january 2009 when cocker had the subsequent

  Prepare a cash budget for the months of february

Prepare a Cash Budget for the months of February and March, using the template provided in Doc Sharing

  Suppose that snap fitness estimates that each location

suppose that snap fitness estimates that each location incurs 4000 per month in fixed operating expenses plus 2000 to

  Qthe subsequent information is available for lock-down

qthe subsequent information is available for lock-down company which produces special-order security products and uses

  What interest rate will be used to calculate interest expens

In 2007, Horwitz Corporation issued ten-year, 9 percent bonds when the market interest rate was 11 percent. Interest is payable annually. During 2010, the market rate of interest for similar bonds was 12 percent. Using the effective, interest meth..

  When a member of the nonbank public withdraws currency

When the Fed extends a $100 discount loan to the First National Bank, reserves in the banking system.

  Compute the eight variances that were discussed in class

Total the variances you have computed, and compare the net amount with the $12,250 mentioned by the vice president. Do you agree that everyone should be congratulated for a job well done? Explain.

  Hasselback inc produced 175000 units and prepared the

hasselback inc. produced 175000 units and prepared the following income report using absorption costing numbers in

  At what level of unit sales will the company break even

Canvas Reproductions has fixed operating costs of $12,500 and variable operating costs of $10 per unit and sells its paintings for $25 each. At what level of unit sales will the company break even in terms of EBIT?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd