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Answer no. 24 and 25 thank you
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- The amount to be reported as expenses (excluding depreciation) in Seri’s income statement is A. P60,000 B. P100,000 C. P65,000 D. P67,000Company A purchased company B for $50,000,000. Company B had net assets of $30,000,000, therefore $20,000,000 was paid in excess of the fair value of the net assets. What does this $20,000,000 premium paid by company A represent? In other words, what is this called?A SE company has on its books for its proved property: P/P- tangible assets $50,000 Well and E&F $220,000 Accumulated DD&A $32,000 If the entire proved property is sold for $220,000, what will be any gain or loss? Accouinting
- The following statements was extracted from the books of ShafNita Sdn. Bhd. at 31 December2019 and 2020. ShafNita Sdn. Bhd. Statement of Financial Position as at 31 December2019 2020RM RM RM RM Non Current AssetsBuilding 100,000 100,000Fixtures less accumulated depreciation 3,600 4,000Van less accumulated depreciation 7,840 14,800111,440 118,800 Current AssetInventory 11,200 24,800Trade account receivable 12,800 16,400Bank 1,800 -Cash 440 400 26,240 41,600Total assets 137,680 160,400Finance by:Capital account:Balance at 1 January 74,080 105,080Add: Net profit for the year 70,400 42,320Cash introduced - 20,000144,480 167,400Less: Drawings (39,400) (43,200)105,080 124,200 Non Current LiabilitiesLoan (repayable in 10 years time) 20,000 30,000Current LiablitiesAccount Payable 12,600 6,012Bank overdraft - 188Retained earnings 32,600 36,200Total liabilities and equity 137,680 160,400 Additional information at 31 December 2020: Fixtures bought in 2020 cost RM800. Van bought in 2020 cost…The asset is 500,000. The liabilities is 1/4 of the asset. How much is the liability?If the actual carrying amount of an asset is R1 500 000 and the historical carrying amount is R900 000, and the fair value is lower than the historical carrying, what is the amount that will be taken to OCI?
- What is the share of A in the asset impairment? ' P120,000 P80,000 P150,000 P250,000SPK NOW Company owned the following investments at year-end before fair value adjustments and amortization: FA@FVTPL, P 600,000; FA@FVTOCI, P350,000; FA@AC, P470,000. What total amount of noncurrent assets related to the investments should be reported at year-end? a.P950,000 b.P1,420,000 c. P470,000 d. P820,000If the asset is unknown and the liabilities is 525,000 and the owners' equity is 475,000. The asset is
- Myla Company has current assets of P75,000 and total assets ofP375,000. The company's sales are P900,000. Myla’s fixed asset turnoveris?A fixed asset with a cost of $41,000 and accumulated depreciation of $36,000 is traded for a similar asset priced at $50,000 (fair market value) in a transaction with commercial substance. Assuming a trade-in allowance of $4,000,at what cost will the new equipment be recorded in the books? a) 51,000 b) 54,000 c) 45000 d) 50,000Determine the missing amounts for each of the following: asset = Liability + owners equity a. 633,000 + 5737,000 b. 6124,500= +5737,000 c. 1981,800 = 748,900 +