Solution-Compute the revaluation surplus as of December

Compute the revaluation surplus as of December

Assignment Help Accounting Basics

Reference no: EM132706344

Question - Tyke Corporation has the following information on January 1, 2016 relating to its land and building.

Land P20,000,000

Building 450,000,000

Accumulated depreciation 75,000,000

There were no additions or disposals during 2016, Depreciation is computed using straight-line method over 15 years for building. On June 30, 2016, the land and building were revalued as follows:

	Replacement Cost	Depreciated Replacement Cost
Land	P35,000,000	P35,000,00
Building	600,000,000	480,000

Required -

1. Compute the depreciation expense for the year 2016?

2. Compute the revaluation surplus as of December 31, 2016?

Reference no: EM132706344

Questions Cloud

Types of team leadership communication responsibilities : Identify 3 types of team leadership communication responsibilities?

Discuss the concept of integrated reporting : Companies already do so much reporting, Discuss the concept of integrated reporting and what it can provide beyond existing reporting.

Define how the articles are used in scholarly research : In this assignment, you will rewrite your Health Care Field Research Draft, which includes the utilization of the feedback from the peer review process.

Describe the causes of conflict in organizations : Describe the causes of conflict in organizations. What can a manager do to control conflict? To resolve and eliminate conflict?

Compute the revaluation surplus as of December : Depreciation is computed using straight-line method over 15 years for building. Compute the revaluation surplus as of December 31, 2016

Develop the communication message : Identify a particular context that requires communication, develop the communication message, implement the communication and take follow-up actions.

How can critical thinking help you become a peak performer : Define and discuss emotional intelligence. How does your learning style, temperament, and positivity affect your EQ? How can critical thinking help you become.

Marketing plan of manchester united football club : What is the Marketing Plan of Manchester United football club ?Include the following points:make a

How do develop a cost of goods manufactured schedule : Develop a cost of goods manufactured schedule. The data have been taken from the accounting records of Karlist Corporation.

User Account

All Pages

Compute the revaluation surplus as of December

Reference no: EM132706344

Reference no: EM132706344

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT