Depreciate plant and equipment, Financial Accounting

1. According to the notes to the financial statements, what method or methods does the company use to depreciate "plant and equipment?" What rate does it use to depreciate plant and equipment?

2. Over what estimated useful life does the company depreciate its building?

3. Describe any differences between IFRS and US GAAP in the calculation of depreciation. (This question is not about the various depreciation methods that can be sued).

4. Using the notes to the financial statements, and information from the statement of cash flows, prepare the journal entry to record the disposal of property, plant and equipment during 2011. (Round your amounts to the nearest thousand).

5. Zetar Plc's property, plant and equipment (PPE) are recorded at cost. The group has a policy of not revaluing PPE. Suppose Zetar Plc decided to revalue its plant and equipment on April 30, 2011 and the fair value of the plant and equipment on that date was £22,000,000. Prepare the journal entry that Zetar would make to record the revaluation assuming that the adjusting journal entry for the period's depreciation / accumulated depreciation had already been recorded. (Hint: you will need to locate the original cost and accumulated depreciation of plant and equipment in the note to the financial statements).

6. Under US GAAP, what alternatives do companies have to value their property, plant and equipment?

7. According to the notes to the financial statements, how often is goodwill tested for impairment?


Posted Date: 2/18/2013 8:20:37 AM | Location : United States

Related Discussions:- Depreciate plant and equipment, Assignment Help, Ask Question on Depreciate plant and equipment, Get Answer, Expert's Help, Depreciate plant and equipment Discussions

Write discussion on Depreciate plant and equipment
Your posts are moderated
Related Questions
Corporation Tax This is the tax payable by companies on their trading activities of a given financial period. The standard doesn’t give the guidelines on how this tax should be

On January 1, 2014, Offshore Corporation erected a drilling platform at a cost of $5,420,142. Offshore is legally required to dismantle and remove the platform at the end of its 6

Q. Show the Audit Documentation? Audit Documentation -Written record of the basis for AUDITOR's conclusions which provides the support for auditor's representations, whether th

Your firm's research department has estimated the income elasticity of demand for Art Deco lawn furniture to be 1.5. You have just learned that due to an upturn in the economy, con

I am working on the comprehensive probelm and I can not figure out the trial balance. Where am I going wrong?

Given the information that follows, draw a cash budget for the XYZ Store for the first six months of 2012. Every prices and costs remain constant. Sales are 80% for credit

Suppose a company will issue new 25-year debt with a par value of $1,000 and a coupon rate of 8%, paid annually. The tax rate is 40%. If the flotation cost is 3% of the issue proce

3:Barnes Baskets, Inc. (BB) currently has zero debt. Its earnings before interest and taxes (EBIT) are $100,000, and it is a zero growth company. BB's current cost of equity is

The common stock of Warner Inc. is currently selling at $114 per share. The directors wish to reduce the share price and increase share volume prior to a new issue. The per share