11AaBbCcDd AaBbCcDd AaBbC AaBbCcLReplaceReDictateSensitivityEditorCreate and Share RequestSignaturesFile1 Normal I No Spac.. Heading 1 Heading 2A Select vAdobe PDF田,、三VoiceSensitivityEditorReuseVx 'x eeAdobe AcrobatStylesParagraphFont1) James Corp acquired several assets from Bonsai Corp. for $2,000,000. Assets acquired includeda truck, a stamping machine, and a forklift. An appraisal of the assets valued the truck at$1,400,000, the stamping machine at $300,000, and the forklift at $450,000. What is the valuethat will be assigned to each of these assets?22029%1021 words4:42 PMType here to searchM73°F10/20/2021ilydeletepuadn 6dbackspacenumlockhomeenter1>pause↑ shiftendaltctrlSUhpHP ENVY x360Get more done with the latestIntel® Core™ processor.BANG &OLUFSENBuilt thin and light19V nok paPrivacy Camera K Switchand Finge

When several asset is acquired at single price then it is called lumpsum purchase. In that case, the…

Answered: 1) James Corp acquired several assets…

Financial & Managerial Accounting

14th Edition

ISBN:9781337119207

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter9: Long-Term Assets: Fixed And Intangible

Section: Chapter Questions

Problem 9.21EX

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EIL.25 (LOS)) (Revaluation Accounting) Pengo Ltd. owns land that it purchased at a cost of V400 million in 2017. The company chooses to use revaluation accounting to account for the land. The land's value fluctuates as follows (all amounts in thousands as of December 31): 2017, V450,000; 2018. V360,000, 2019, V385,000; 2020, ¥410,000, and 2021, V460,000. Instructions Complete the following table below. Value at Other Comprehensive Accumulated Other Recognized December 31 Income Comprehensive Income Net Income 2017 2018 2019 2020
1) The total assets of Best Service is P500,000. Twenty percent (20%) represents the claim of the owner. Its liability, therefore is: a. P100,000 b. P400,000 c. P500,000 d. None 2) The owner’s capital is P50,000. The creditors have 60% claim on the total assets. The correct amount of assets would be: a. P 83,333 b. P 80,000 c. P 30,000 d. P125,000
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QUESTION 1The following trial balance relates to Golden Ltd at 30th September 2018 GHS'000 GHS'000Sales (a) 760,000Material purchases (b) 128,000Production labour (b) 248,000Factory overheads (b) 160,000Distribution costs 28,400Administrative expenses (c) 92,800Finance costs 700Investment income 1,600Leased property - at cost (b) 100,000Plant and equipment - at cost (b) 89,000Accumulated amortisation/depreciation at 1/10/2017- leased property 20,000- plant and equipment…
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