me following balance sheet extract was obtained from the books of Shamu Ltd as at December 31, 2021: 2020 Dep'n 550.000 35.000) 515.000 340.000 (28.000) 312.000 450,000 (45,000) 405,000 395,000 29.500) 365,500 2021 Cost NBV NBV 640,000 (64.000) 576 000 490.000 (35600) 454 400 520,000 (60,000) 460.000 440.000 36,700) 403300 250.000 Cost Dep'n Land and building Fixtures and fittings Machinery and equipment Motor vehicle Long term investment 180.000 t was ascertained that during the year, equipment costing $45,000 with a book value of $28.000 was sold at a loss of $6.000. Additionally, the puilding was revalued by $50,000. How much is to be shown as purchase of non-current assets in the cash flow statement? O a $445,000 Ob $400,000 Oc $350,000 Od $395,000

me following balance sheet extract was obtained from the books of Shamu Ltd as at December 31, 2021: 2020 Dep'n 550.000 35.000) 515.000 340.000 (28.000) 312.000 450,000 (45,000) 405,000 395,000 29.500) 365,500 2021 Cost NBV NBV 640,000 (64.000) 576 000 490.000 (35600) 454 400 520,000 (60,000) 460.000 440.000 36,700) 403300 250.000 Cost Dep'n Land and building Fixtures and fittings Machinery and equipment Motor vehicle Long term investment 180.000 t was ascertained that during the year, equipment costing $45,000 with a book value of $28.000 was sold at a loss of $6.000. Additionally, the puilding was revalued by $50,000. How much is to be shown as purchase of non-current assets in the cash flow statement? O a $445,000 Ob $400,000 Oc $350,000 Od $395,000

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Description: The following balance sheet extract was obtained from the books of Shamu Ltd as at December 31, 2021:2020Dep'n550,000 (35.000) 515,000340,000 (28.000) 312.000450,000 (45,000) 405,000395,000 (29.500) 365.5002021Dep'n640 000 (64,000) 576.000490,000 (3

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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Culver Inc. applies ASPE and had the following statement of financial position at the end of operations for 2019: CULVER INC.Statement of Financial PositionDecember 31, 2019 Cash $50,500 Accounts payable $ 93,000 Accounts receivable 90,000 Long-term debt 85,000 Inventory 82,000 Common shares 100,000 Machinery (net) 125,000 Retained earnings 89,500 Trademarks 20,000 $367,500 $367,500 During 2020, the following occurred: 1. Jia Inc. sold some of its trademarks. The trademarks had an unlimited useful life and a cost of $10,000. They were sold for proceeds of $19,500. 2. Machinery was purchased in exchange for long-term debt of $40,000. 3. Long-term debt in the amount of $16,000 was retired before maturity by paying $16,000 cash. 4. An additional $11,500 in common shares was issued. 5. Dividends totalling $13,200 were declared and paid to shareholders. Dividends paid are treated as financing…
The entity has collected P20,000 interest during 2020. While P3,700 is recorded in interest receivable on its December 31, 2020 statement of financial position and P10,000 on December 31, 2019. The interest revenue to be reported in the Company’s statement of comprehensive income for 2020 is?
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