User Account

All Pages

Find what is the carrying amount of the asset

Assignment Help Accounting Basics
Reference no: EM132674938

Problem 1: On January 1, 2015, Nicholson Company acquired equipment for P2,000,000 with an estimated 10-year useful life with 10% residual value and used the straight line method of depreciation. During 2019, after the 2018 financial statements had been issued, the entity determined that, due to obsolescence, this equipment has a remaining useful life of only four more years and residual value would be reduced to 40% of the original residual value. On December 31, 2019, what is the carrying amount of the asset?

Reference no: EM132674938

Questions Cloud

What is the depreciation expense for ameche company : On January 1, 2015, Ameche Company purchased machine for P4,000, In the income statement for the year ended December 31, 2019, what is the depreciation expense?
Recommend a strategy to reduce the total length of time : If she cannot afford to increase her current repayments, and is unable to negotiate a better interest rate, recommend a strategy to reduce the total length
What is coleman cost of common equity : Coleman Technologies Inc. Cost of Capital Coleman Technologies is considering a major expansion program that has been proposed by the company's information
What amount should be recognized as impairment loss : P1,300,000 on January 5, 2020.In the income statement for the year ended December 31, 2019, what amount should be recognized as impairment loss?
Find what is the carrying amount of the asset : On January 1, 2015, Nicholson Company acquired equipment for P2,000,000. On December 31, 2019, what is the carrying amount of the asset?
Explain kelton model of the heirarchy of money : Explain Kelton's model of the heirarchy of money. Explain the relationship between the hierarchy of money to your answers in parts a) and b).
What is the carrying amount of the machine on may : What is the carrying amount of the machine on December 31, 2019? What is the carrying amount of the machine on May 31, 2019?
Cost of common equity using the dcf approach : Coleman Technologies Inc. Cost of Capital Coleman Technologies is considering a major expansion program that has been proposed by the company's
How many anz shares are outstanding : 1) How many ANZ shares are outstanding? ) What is the current market capitalisation of ANZ?

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