Q 8: King Kong Limited acquired a piece of land for setting up a factory for Rs. 15 million on 1st October 2018. It took a loan of Rs. 30 million from the State Bank of India at 10 percent for this purpose, the balance being met from internal resources. It also includes one percent of the cost of land towards Commission to the real estate agent and 5% towards the registration fees. The earlier owner has defaulted on payment of property type and the same was also paid by the company amounting to Rs. 50000. It incurred Rs. 1 million towards Clearing and fencing of the land. The construction of factory premises commenced on 1st January 2019 and completed on 31st December 2019. The company repay the loan to the State Bank of India on 31st March 2020. You are required to determine the cost at which the land will be capitalised in the books of King Kong Limited.

Q 8: King Kong Limited acquired a piece of land for setting up a factory for Rs. 15 million on 1st October 2018. It took a loan of Rs. 30 million from the State Bank of India at 10 percent for this purpose, the balance being met from internal resources. It also includes one percent of the cost of land towards Commission to the real estate agent and 5% towards the registration fees. The earlier owner has defaulted on payment of property type and the same was also paid by the company amounting to Rs. 50000. It incurred Rs. 1 million towards Clearing and fencing of the land. The construction of factory premises commenced on 1st January 2019 and completed on 31st December 2019. The company repay the loan to the State Bank of India on 31st March 2020. You are required to determine the cost at which the land will be capitalised in the books of King Kong Limited.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

I need typing clear urjent no chatgpt use i will give 5 upvotes full explanation
I need answer typing clear urjent no chatgpt used i will give upvotes all answers pls
typing clear
hi im looking at the solution above and have a quuestion-im a littlepuzzled on exactly how i should be plugging in the numbersfor example, the chart liists Time (ln2/(ln(1+r)) but how exactly should i type this in my calculatorto get =l3/J3? maybe im overthinking it
PLEASE, WRITE THE SOLUTIONS ON PAPER, EXPLAINING THE ENTIRE PROCESS, THE ONLY AND CORRECT ANSWERS ARE FOR (i) V(t) = exp (-2e^0.02t + 2 ) for 0 15 (i) Derive, and simplify as far as possible, expressions in terms of t for V(t), where V(t) is the present value of a unit sum of cash flow made at time t. You should derive separate expressions for the three sub-intervals. (ii) Hence, making use of the result in part (i), calculate the value at time t = 3 of a payment of £2,500 made at time t = 15. (iii) Calculate, to the nearest 0.01%, the constant nominal annual rate of interest convertible half-yearly implied by the transaction in part (ii). (iv) Making use of the result in part (i), calculate the present value of a payment stream p(t) paid continuously from time t = 15 to t = 20 at a rate of payment at time t given by: p(t) = 300e 0.02t
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
myedio.com Question 12 Listen Use the function f(x)=2x-5 • Find the inverse of f(x). . . Graph f(x) and f(x) and state the domain of each function. Prove that f(x) and f¹(x) are inverses, both graphically and algebraically. ATTACHMENTS W Algebra2 U9 UnitTest_Q17 docx 146.32 KB
Req1-Req2 were incorrect. Can you try the problem again ?
Please answer ASAP if you can please. Thank you! Please Please write expression or formula used Set up expression initially with functional notation (e.g.,(P/F,I,n))
solve it using this method: S2 = (((1+S1)*(1+F2))1/2 )– 1 S3 = ((1+S1)*(1+F3)) 1/3 - 1 P = 50/(1+S1)+50 / (1+S2) 2 + 1050 / (1+S3) 3 and find the value of p
both a and b