What is the accounting standards for hotel properties

Assignment Help Accounting Basics
Reference no: EM132435494

Question - Hotel Properties - Hotel properties comprise land, buildings, furniture, fixtures and equipment, and other and are stated at cost less accumulated amortization and any impairment losses. The application of this policy requires an estimate of the useful life of the asset and its residual value. The revenue and operating expenses of the hotel properties are included within net operating income in the consolidated statements of income.

The Company provides for amortization of hotel properties so as to apply the cost of the assets over the estimated useful lives as follows:

 

Method

Rate

Buildings

Straight-line

40 years

Furniture, fixtures and equipment

Straight-line

5 to 10 years

Other

Straight-line

5 to 10 years

Required - What is the accounting standards for hotel properties?

Reference no: EM132435494

Questions Cloud

What competitive forces do companies face in an industry : Question 1: External Environmental Analysis What economic factors have to be considered in identifying an industry analysis?
Conduct research about apple vs samsung : Discuss and contrast the two companies' competitive advantage and how each uses the 5 P's of strategic planning.
Difference between a strategic and tactical executive : What is the difference between a strategic and tactical executive? Why is it important to become a better strategist in today's competitive environment?
Ps320 history and systems of psychology assignment : PS320 History and Systems of Psychology Assignment help and solutions:-Describe and explain Witmer's contribution to the field of clinical psychology
What is the accounting standards for hotel properties : The Company provides for amortization of hotel properties. What is the accounting standards for hotel properties
Define group and social entrepreneurship : Define group and social entrepreneurship. Describe India's potential for the growth and development of entrepreneurship in different sectors.
Five generic competitive strategies : Which one of the five generic competitive strategies most closely approximates the competitive approach Apple Inc. is employing?
Define an industrial estate : Define an Industrial estate. What are the different types of Industrial estates in India?
Why did you select this individual as a leader you admire : Identify someone you admire as a leader. and answer the following questions

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.

  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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd