User Account

All Pages

Compute the amount of donated capital

Assignment Help Accounting Basics
Reference no: EM132537719

Question - Marasigan Corp. received the following items as donations during 2019:

Mar. 21 Arias Realty gave the corporation 5 hectares of land valued at P6,000,000. Marasigan agreed to build a distribution warehouse on the property and to employ at least 50 local residents.

Apr. 30 A shareholder donated 10,000 shares of Marasigan P200 par ordinary shares. The stock was selling for P425 per share on Apr. 30.

June 25 Bobadilla Holdings donated a mobile office, which was moved to the donated land and used as temporary office. An independent appraisal established the value of the mobile office at P675,000.

July 15 4,000 of the ordinary shares received as donation on April 30 were sold for P1,820,000.

Required -

1. Prepare the journal entries to record the transactions related to the donation.

2. Compute the amount of donated capital that Marasigan Corporation would present on the December 31, 2019 statement of financial position.

Reference no: EM132537719

Questions Cloud

Which the cima code of ethics for management accountants : Which The CIMA Code of Ethics for management accountants includes concepts related to?competence, confidentiality, integrity, and professional behaviour
Make escherichia coli use succinic acid : How would you design a regulatory system to make Escherichia coli use succinic acid in preference to glucose? How could you modify
Amino acid biosynthetic operons : Considering that the environment of a bacterium can be highly dynamic, what advantage could be conferred by having attenuation as a second layer of control?
How a computer system installed last year is : Determine How A computer system installed last year is an example of a? differential cost/ relevant cost/ avoidable cost/ sunk cost.
Compute the amount of donated capital : Compute the amount of donated capital that Marasigan Corporation would present on the December 31, 2019 statement of financial position
Considering the function of heat shock proteins : In considering the function of heat shock proteins, why is it not surprising that these proteins are both highly conserved and very ancient?
Employ regulatory proteins : Describe how one could achieve negative control of the lac operon using either of two different types of regulatory RNA
What concerns about target costing : What Concerns about target costing include all the following EXCEPT?cross-functional teams may add too many features/development time may decrease
Explain two ways organisations can use corporate disclosure : Explain two ways organisations can use corporate disclosure policy to maintain or regain organisational legitimacy? What is a social contract

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