what is the closing checklist in the property amanagement?

Q: What assets are normally included as estate properties?

A: Probate laws: After the death of a decedent, in order to seek the problems of how his property…

Q: Explain Quitclaim Deed?

A: Quitclaim Deed: Quitclaim Deed is also called as non-warranty deed. A quitclaim deed is considered…

Q: When should a property be sold?

A: Sale of property: The act of transferring the title to the buyer by the seller after receiving the…

Q: WHAT IS LEGAL LIFE OF THE ASSET?

A: SOLUTION- LEGAL LIFE OR USEFUL LIFE OF ASSET- AN ASSET LEGAL LIFE IS THE PERIOD OF TIME (OR TOTAL…

Q: how the value of the property is established through an appraisal?

A: Appraisal of a property is done to understand the highest probable price for a property and to…

Q: Why might the actual holding period for a property be different from the holding period that was…

A: The consideration while anticipating holding period: 1.The rental from the property. 2.The rate at…

Q: Bart Company purchased land with a current market value of Php2,400,000. The book value of the land…

A: The total cost of fixed assets include acquiring cost, freight charges and other incurred expenses…

Q: What information is found on the depreciation schedule? How can this information be verified?

A:

Q: How can be Preservation and Maintenance of the Property can be done?

A: Preservation and Maintenance of Property can be done as follows: The borrower of the property…

Q: What factors affect a property’s projected NOI?

A: NOI is the abbreviation used for Net operating income. It is used to analyze the profit which will…

Q: How can the Gains and Losses on Depreciable Assets be determined?

A: For calculation of gains or losses on depreciable assets, written down value of the assets at the…

Q: Prepare a Schedule of Depreciation on Property, Plans and Equipment

A: Below is the depreciation schedule:

Q: What are the pronouncements made by IFRS on Depreciation?

A: IFRS (International Financial Reporting Standards) provide guidelines on how to account for…

Q: What are some recommendations to the pronouncements on depreciation?

A: Depreciation refers to the decrease in the value of a fixed asset over time due to wear and tear,…

Q: For the given asset, A plot of land for your personal use, state whether the asset is tangible/…

A: An asset is depreciable asset if it satisfies three criteria as mentioned under: It is held for…

Q: What are the requirements of depreciating an asset?

A: Depreciation is a non-cash expense which is charged against the use of the fixed assets of the…

Q: Please can you provide some guidance on the deprciation calcuation?

A: Depreciation Expenses - Depreciation Expenses are the expense incurred on the wear and tear of the…

Q: What is the role of depreciation allowance?

A: Depreciation seems to be an allowance on physical assets bought and used, not really an expense,…

Q: Determine an asset's depreciable life?

A: A tangible asset is a substantial resource. Tangible resources incorporate fixed resources including…

Q: Under what conditions should financing be explicitly considered when estimating the value of a…

A: Before buying a property, estimating its value is necessary. Because only after estimating the value…

Q: how to calculate deprieation

A: When fixed asset is purchased, it is recorded in books of accounts at it original or acquisition /…

Q: What is Indefinite life intangible assets?

A: Definition:   Intangible assets: These are the long-term assets that are not physical in nature, but…

Q: What does intangible assets includes in its items? Explain them in detail.

A:

Q: how to calculate property loss claim average

A: To calculate the property loss claim average, you would need to sum the total amount of all property…

Q: Define the term the depreciable life of the asset?

A: Depreciation  is an accounting process through which allocation of an asset’s cost during its useful…

Q: what is Land classified as on the Income statement in the Revenue section?

A: Land is defined as the ground occupied by a business’ operations. This can include a company’s…