Solving 3 PDF

Preview

Summary

Solving: On January 1, 20x1, Entity A received land with fair of 200,000 from the₱ government conditioned on the construction of a building on the lot. Entity A started immediately the construction and it was completed on December 31, 20x1 for a total cost of 1,000,000. The building has₱ an estimat...

Description

Sol vi ng:  On J anuar y 1,20x 1,Ent i t yA r ec ei v ed l and wi t hf ai rof₱200, 000 f r om t he gov er nmentcondi t i onedont hec onst r uc t i onofabui l di ngon t hel ot .Ent i t yA s t ar t edi mmedi at el yt heconst r uct i onandi twasc ompl et edonDecember31, 20x 1f orat ot alc os tof₱1, 000, 000.Thebui l di nghasanes t i mat edusef ull i f eof 10y ear sandz er or es i dualv al ue.3.How muc hi st hei ncomef r om gov er nment gr anti n20x1and20x2,r es pect i v el y?

o Answer :0&20, 000

 How muchi st hec ar r y i ngamountoft hebui l di ngonDec ember31,20x 2under t hef ol l owi ngpr esent at i ons:Gr osspr esent at i on/ Netpr esent at i on?

o Answer :900, 000/ 720, 000

 How muc hi st hedepr eci at i onex penser ecogni z edi n20x 3undert hef ol l owi ng pr esent at i ons:Gr osspr esent at i on/ Netpr es ent at i on?

o Answer :100, 000/ 80, 000...