6. As of December 31, 2020, V CorporatIon reported the fol Php 240,000 520,000 350,000 3,000,000 850,000 400,000 500,000 1,000,000 250,000 Cash Receivables Inventory Property and Plant Equipment Accounts Payable Short-term notes payable Long-term debt Weighted Average of outstanding shares in 2020 V Corporation contracted with a third-part appraiser to determine how much replacement cost of its assets. Based on the report of the appraiser, The property and plant have replacement cost of 125% of its reported value. On the other hand, the equipment only commands replacement costs of 70% of its value. According to the appraiser. The equipment was designed using an old technology thus lower replacement cost, other assets and liabilities are valued fairly. How much is the non-current asset reflected in the books of V Corporation as of Dec 31,2020? a) Php4,960,000 b) Php3,850,000 c) Php2,860,000 d) Php2,150,000 7. How much is the book value per share of V Corporation as of December 31, 2020? a) Php19.84 b) Php16.24 c) Php15.84 d) Php12.24 8. How much is the replacement value of the non-current assets of V Corporation? a) Php3,345,000 b) Php3,850,000 c) Php4,345,000 d) Phn5.455.000

6. As of December 31, 2020, V CorporatIon reported the fol Php 240,000 520,000 350,000 3,000,000 850,000 400,000 500,000 1,000,000 250,000 Cash Receivables Inventory Property and Plant Equipment Accounts Payable Short-term notes payable Long-term debt Weighted Average of outstanding shares in 2020 V Corporation contracted with a third-part appraiser to determine how much replacement cost of its assets. Based on the report of the appraiser, The property and plant have replacement cost of 125% of its reported value. On the other hand, the equipment only commands replacement costs of 70% of its value. According to the appraiser. The equipment was designed using an old technology thus lower replacement cost, other assets and liabilities are valued fairly. How much is the non-current asset reflected in the books of V Corporation as of Dec 31,2020? a) Php4,960,000 b) Php3,850,000 c) Php2,860,000 d) Php2,150,000 7. How much is the book value per share of V Corporation as of December 31, 2020? a) Php19.84 b) Php16.24 c) Php15.84 d) Php12.24 8. How much is the replacement value of the non-current assets of V Corporation? a) Php3,345,000 b) Php3,850,000 c) Php4,345,000 d) Phn5.455.000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

6. As of December 31, 2020, V Corporation reported the following items in its balance sheet:
Php 240,000
520,000
350,000
Cash
Receivables
Inventory
Property and Plant
Equipment
Accounts Payable
Short-term notes payable
Long-term debt
Weighted Average of outstanding shares in
2020
3,000,000
850,000
400,000
500,000
1,000,000
250,000
V Corporation contracted with a third-part appraiser to determine how much replacement cost of its assets. Based
on the report of the appraiser, The property and plant have replacement cost of 125% of its reported value. On the
other hand, the equipment only commands replacement costs of 70% of its value. According to the appraiser. The
equipment was designed using an old technology thus lower replacement cost, other assets and liabilities are
valued fairly.
How much is the non-current asset reflected in the books of V Corporation as of Dec 31,2020?
a) Php4,960,000
b) Php3,850,000
c) Php2,860,000
d) Php2,150,000
7. How much is the book value per share of V Corporation as of December 31, 2020?
a) Php19.84
b) Php16.24
c) Php15.84
d) Php12.24
8. How much is the replacement value of the non-current assets of V Corporation?
a) Php3,345,000
b) Php3,850,000
c) Php4,345,000
d) Php5,455,000

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