User Account

All Pages

How much is to be included as comprehensive income

Assignment Help Accounting Basics
Reference no: EM132545497

Question - On December 31, 2018, CC Co. reclassified its previously held asset as owner occupied to investment property due to change in use. The following data were determined by CC Co.

Original Cost P2,500,000

Accumulated depreciation - Dec. 31,2018 1,500,000

Carrying amount - Dec. 31, 2018 1,750,000

Fair value - Dec 31, 2018 1,925,000

Since the fair value of the asset can be determined at the end of each reporting period, CC Co's policy is to use the revaluation model in its item of PPE subsequent to initial measurement.

How much is to be included as part of other comprehensive income related to the transfer?

Reference no: EM132545497

Questions Cloud

Prepare the journal entry for healthy farms : Prepare the journal entry for Healthy Farms at April 2, 2020, assuming Healthy Farms estimates returns of 20% based on prior experience
What effect of declining balance method on waller company : What will the effect of declining balance method on Waller company earning? determine annual depreciation using the straight-line method
What alternatives should timberlake consider : Timberlake's tax rate is 21 percent. What alternatives should Timberlake consider, and what are the tax consequences of the alternatives
Evidence property receipt : What types of evidence had fingerprints on them and what can fingerprint evidence inform us after being identified, collected, preserved, and examined?
How much is to be included as comprehensive income : Since the fair value of the asset can be determined at the end of each reporting period, How much is to be included as comprehensive income
What will be consequences if an accountant wrongly treat : What will be consequences if an accountant wrongly treats capital expenditures as revenue expenditure? Support you answer with a rationale.
Discuss community policing philosophy : Discuss the community policing philosophy. discuss your perception of the police officers' actions.
Brief of reflection on accountancy professionals : Brief of reflection on accountancy professionals' possible disregard for their agency role and the characteristics of a professional
Which investment will a risk-loving investor choose : Which investment will a risk-averse investor with a risk aversion coefficient of 3 choose? Which investment will a risk-loving investor choose?

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