6a7b4823-4e21-49ed-8658-e8fe257b110e

please dont give answers in image thank you

answer in text form please (without image), Note: .Every entry should have narration please

Hilarious Company provided the following data pertaining to machinery on the date of revaluation: CostReplacement cost Machinery 4, 500, 000 7, 200, 000 Accumulated depreciation     900, 000 Age of asset     3 years Revised Life of the asset 10 years   Required: Appreciation or revaluation increase Carrying amount Depreciated replacement cost Revaluation surplus What is the original life of the asset? Prepare the journal entry to record the revaluation Prepare the entry to record the annual depreciation subsequent to revaluation Prepare the entry to record the piecemeal realization of the revaluation surplus

The following information is available on a depreciable asset: Purchase date January 1, Year 1 Purchase price $96,000 Salvage value $10,000 Useful life 10 years Depreciation method straight-line The asset's book value is $78,800 on January 1, Year 3. On that date, management determines that the asset's salvage value should be $5,000 rather than the original estimate of $10,000. Based on this information, the amount of depreciation expense the company should recognize during Year 3 would be: Multiple Choice $7,880.00 $9,225.00 $8,600.00 $7,380.00 $9,850.00

The acquisition of a used machine with a purchase price of $43,163, requiring an overhaul costing $9,311, installation costs of $4,642, and special acquisition fees of $4,875, would be journalized with a debit to the asset account for Ca. $61,991 Ob. $80,819 c. $52,474 Od. $43,163

Please do not give solution in image format thanku

The acquisition of a used machine with a purchase price of $44,994, requiring an overhaul costing $9,118, installation costs of $4,677, and special acquisition fees of $31,965 would be journalized with a debit to the asset account for Oa. $54,112 0b. 590.754 O c. $136,514 O d. $44,994The acquisition of a used machine with a purchase price of $44,994, requiring an overhaul costing $9,118, installation costs of $4,677, and special acquisition fees of $31,965 would be journalized with a debit to the asset account for Oa. $54,112 0b. 590.754 O c. $136,514 O d. $44,994.

The acquisition of a new machine with a purchase price of $80,545, transportation costs of $9,221, installation costs of $6,311, and special acquisition fees of $2,597, would be journalized with a debit to the asset account for Oa. $80,545 Ob. $89,453 Oc. $86,856 Od. $98,674

Computing Partial Period Depreciation under Multiple Depreciation Methods To demonstrate the computations involved in several methods of depreciating a fixed asset, the following information is provided. Cost and residual value   Estimated service life   Acquisition cost $62,500 Years 5 Residual value $2,500 Service hours 50,000     Productive output (units) 120,000 d. Sum-of-the-years’-digits method: Compute the depreciation amount for each year.   2020 2021 2022 2023 2024 2025 Answer   Answer   Answer   Answer   Answer   Answer       e. Double-declining-balance method: Compute the depreciation amount for each year.   2020 2021 2022 2023 2024 2025 Answer   Answer   Answer   Answer   Answer   Answer   Required Compute the annual depreciation using each of the following methods assuming that the asset was purchased on August 1, 2020.

The acquisition of a new machine with a purchase price of $96,072, transportation costs of $7,638, installation costs of $6,963, and special acquisition fees of $2,105, would be journalized with a debit to the asset account for a.$96,072 b.$112,778 c.$105,140 d.$103,035

Book value Find the book value for the asset shown in the accompanying table, assuming that MACRS depreciation is being used E Elapsed time since purchase Recovery period (years) Asset Installed cost (years) A $973,000 4 The remaining book value is $ (Round to the nearest dollar.) Enter your answer in the answer box.

1 Required information [The following information applies to the questions displayed below) Solich Sandwich Shop had the following long-term asset balances as of January 1, 2024: Accumulated Depreciation Land Building Equipment Patent View transaction list Ma • Solich purchased all the assets at the beginning of 2022. • The building is depreciated over a 10-year service life using the double-declining-balance method and estimating no. residual value. . The equipment is depreciated over a nine-year service life using the straight-line method with an estimated residual value of $10,000 The patent is estimated to have a five-year useful life with no residual value and is amortized using the straight-line method. Depreciation and amortization have been recorded for 2022 and 2023 (first two years). 2 2. For the year ended December 31, 2024, record amortization expense for the patent. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account…

Determining Fixed Asset's Book Value The balance in the equipment account is $3,900,000, and the balance in the accumulated depreciation—equipment account is $2,106,000. a.   What is the book value of the equipment?$_____________ b.   Does the balance in the accumulated depreciation account mean that the equipment's loss of value is $2,106,000?_____________________, because depreciation is an allocation of the __________________________of the equipment to the periods benefiting from its use.

Computing Depreciation Using Various Depreciation Methods To demonstrate the computations involved in several methods of depreciating a fixed asset, the following data are used for equipment purchased on January 1, 2020. Cost and residual value   Estimated service life:   Acquisition cost $26,250 Years 5 Residual value $1,050 Service hours 21,000     Productive output (units) 50,400 e. Double-declining-balance method: Compute the depreciation amount for each year. 2020 2021 2022 2023 2024 Answer   Answer   Answer   Answer   Answer

1. Which of the following is a qualifying asset? * A. Building that is ready for its intended use upon purchase B. An application software (intangible asset) that takes 3 years to develop C. Investment property measured at fair value D. Inventories that are routinely produced in large quantities in continuous basis   2. In which of the following instances is the capitalization of borrowing costs under PAS 23 would most likely be suspended? *   A. Construction is temporarily stopped for the curing of concrete. B. Active development is stopped to give time for the engineers to reevaluate a design flaw. C. The construction of a bridge is disrupted by troubled waters. D. The construction of a building is discontinued because it is condemned by the government. The resumption of development is uncertain.   3. On January 1, 20x1, Entity A obtained a 12% ₱6,000,000 loan, specifically to finance the construction of a building. The proceeds of the…

Computing Partial Period Depreciation under Multiple Depreciation Methods Compute depreciation expense for 2021 for each asset #1, #2, #3, and #4. Note: Do not round until your final answer. Round your final answer to the nearest whole dollar. Acquisition Acquisition Useful Salvage 2021 Depreciation Value Asset Date Depreciation Method Cost Life Expense #1 Jan. 1, 2020 Straight-line $4,000 4 years $200 $ 950 v #2 Aug. 30, 2020 Double-declining-balance 5,800 8 years 400 $ 1,125 x #3 Feb. 1, 2021 Sum-of-the-years'-digits 7,200 4 years 320 $ 1,147 x #4 Jul. 31, 2021 Straight-line 13,520 8 years 0 $

Please Introduction and show work and please no plagiarism please

h

Acquisition Cost of Long-Lived Asset The following data relate to a firm's purchase of a machine used in the manufacture of its product: Invoice price Applicable sales tax Cash discount taken for prompt payment Freight paid Cost of insurance coverage on machine while in transit Installation costs Testing and adjusting costs Repair of damages to machine caused by the firm's employees Prepaid maintenance contract for first year of machine's use Determine the acquisition cost of the machine. Acquisition Cost = $ $30,000 2,000 400 260 125 3,000 475 750 300

Subject:

Conceptual Question Identify whether or not each of the following items should be capitalized as intangible assets from the following list. Explain your reason with relevant accounting standard. Capitalised Not capitalized Employment costs of staff conducting research activiities Cost of constructing a working model of a new product License purchased to permit production and sale of a product for ten years

Please answer, The questions are under IAS 38 Intangible Assets

A fixed asset with a cost of $32,167.00 and accumulated depreciation of $28,950.30 is sold for $5,468.39. What is the amount of the gain or loss on disposal of the fixed asset? Select the correct answer. A. $2,251.69 loss   B. $2,251.69 gain   C. $3,216.70 gain   D. $3,216.70 loss

Accurate answer