User Account

All Pages

At what amount should Cleopatra record the land acquired

Assignment Help Accounting Basics
Reference no: EM132594481

Question - Cleopatra Company owns a tract of land that it purchased in 2017 for P2,000,000. The land is held as a future plant site and has a fair value of P3,000,000 on July 1, 2020. Caesar Company also owns a tract of land held as a future plant site. Caesar paid P3,600,000 for the land in 2018 and the land has a fair value of P3,800,000 on July 1, 2020. On this date, Cleopatra exchanged its land and paid P1,000,000 cash for the land owned by Caesar. The configuration of cash flows from land acquired is expected to be significantly different from the configuration of cash flows of the land exchanged. At what amount should Cleopatra record the land acquired in the exchange?

Reference no: EM132594481

Questions Cloud

What are the major social forces at work : Consider the major social forces in the workplace, such as poverty, race, ethnicity, gender, sexual orientation, and social status, and reflect on the readings
What amount is capitalizable borrowing cost : Katrina Company obtained a loan of P4,000,000 at an interest rate of 10%, What amount is capitalizable borrowing cost
Explain graphic display of sociological theories : Create a Venn Diagram or other graphical representation to illustrate the relationship between the foundational sociological theories of work
How do current political parties in the us stand on issue : How can social science research be used to better inform politicians and voters about the issue, i.e. where can someone go to get reliable information
At what amount should Cleopatra record the land acquired : Cleopatra Company owns a tract of land that it purchased in 2017 for P2,000,000. At what amount should Cleopatra record the land acquired
Define traditional journalist as well as citizen journalist : Define "traditional journalist" as well as citizen journalist. What are their characteristics, roles and responsibilities within larger news gathering community
At what amount should abelard corporation capitalize machine : The company paid P1,000 for removing the old machine. At what amount should Abelard Corporation capitalize the new processing machine
Problem - Prepare a Journal entry : Problem - Prepare a Journal entry - Share Premium-Preference Share 92,100 and Subscription Receivable-Preference Share 105,000
What is the impact of media ownership : What is the impact of media ownership, more specifically the Big 6 conglomerates, on creativity and diversity of media content?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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