User Account

All Pages

What amount princess company record as cost of the asset

Assignment Help Accounting Basics
Reference no: EM132697762

Princess Company agreed with another company to exchange an old tractor trailer with a cost P1,000,000, was 40% depreciated and a fair value of P800,000 for another tractor trailer and a cash of P550,000 which is the difference in fair value. The tractor trailer received had a carrying cost of P100,000 and fair value P250,000.

Problem 1: What amount should Princess Company record as cost of the asset received in exchange?

Group of answer choices

Option 1: 250,000

Option 2: 1,350,000

Option 3: 1,400,000

Option 4: 800,000

Reference no: EM132697762

Questions Cloud

Explain the styles of leadership in brief : Discussions play an integral role in monitoring your course participation throughout the term. You should check back to the weekly discussions multiple times.
Find what is the capitalizable borrowing cost : Construction commenced on January 1, 2020 with a cost P6,000,000. Not all the cash borrowed was used immediately, What is the capitalizable borrowing cost?
Business factors were evaluated prior to implementation : What business factors were evaluated prior to implementation? What benefits were gained after implementing the technology?
Describe ways to improve your chosen primary solution : Identify concepts and ideas from multiple sources that improve or strengthen your solution. Identify possible trade-offs and the impact that trade-off may.
What amount princess company record as cost of the asset : Princess Company agreed with another company to exchange. What amount should Princess Company record as cost of the asset received in exchange?
What does reconciliation in canada mean : What does reconciliation in Canada mean to me? For me?
Data and process modelling case study : Draw a DFD that includes some obvious mistakes to see whether your newly hired junior analysts can find them - Data and Process Modelling Case Study
Process of ongoing reconciliation in canada : How can Indigenous Tourism contribute to the process of ongoing reconciliation in Canada?
Find how much Baltimore Company report for its investment : Use this information to find how much Baltimore Company should report for its investment in Towson Company on December 31, 2018

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