Tan Chin Company purchases a building for HK$11,300,000 on January 2, 2015. An engineers report shows that
Question:
Tan Chin Company purchases a building for HK$11,300,000 on January 2, 2015. An engineer’s report shows that of the total purchase price, HK$11,000,000 should be allocated to the building (with a 40-year life, no residual value), HK$150,000 to 15-year property, and HK$150,000 to 5-year property. Compute depreciation expense for 2015 using component depreciation.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Intermediate Accounting IFRS Edition
ISBN: 9781118443965
2nd Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Question Posted:
Students also viewed these Business questions
-
Tan Chin Ltd. purchases a building for HK$11,300,000 on January 2, 2019. An engineer's report shows that of the total purchase price, HK$11,000,000 should be allocated to the building (with a 40-year...
-
Tan Chin Company purchases a building for $11,300,000 on January 2, 2012. An engineers report shows that of the total purchase price, $11,000,000 should be allocated to the building (with a 40-year...
-
Compute the depreciation expense for this equipment at December 31, 2012. IFRS11-8 Tan Chin Company purchases a building for $11,300,000 on January 2, 2012. An engineers report shows that of the...
-
What is the formula to find total dividend and payout ratio? This is the information I have: the amount of shares the company holds and the last dividend paid. Lastly, will there be enough cash to...
-
Using the forecasts in Exercise E14.7, forecast abnormal operating income growth and, from these forecasts, value the operations and the equity. The required return for operations is 10 .1 percent....
-
The entropy of steam increases in actual steam turbines as a result of irreversibilities. In an effort to control entropy increase, it is proposed to cool the steam in the turbine by running cooling...
-
Do analytical efforts, big data examinations, and textual analyses impact compliance and fraud deterrence? Provide an explanation for your opinion.
-
TJs, Inc., makes three nut mixes for sale to grocery chains located in the Southeast. The three mixes, referred to as the Regular Mix, the Deluxe Mix, and the Holiday Mix, are made by mixing...
-
3. Consider a two period problem where a consumer has preferences over consumption in the two periods given by: log c + Blog c'. She has no initial assets and has income y in the first period y' in...
-
Goldman Corporation bought a machine on June 1, 2013, for 31,800, f.o.b. the place of manufacture. Freight to the point where it was set up was 200, and 500 was expended to install it. The machines...
-
Describe cost depletion.
-
Western Company is a management consulting firm. The company expects to incur $252,000 of indirect costs this year. Indirect costs are allocated based on the following activities: Western bills...
-
3) A satellite orbits the earth in circular orbits. Find the period if: a) The satellite is just above the surface of the earth. b) The satellite is at an attitude of 300 km above the earth. (Assume...
-
As per UCP 600, a credit must not be issued available by a draft drawn on the ______________?
-
Did Secretary of Treasury Hank Paulson (former Goldman Sach's CEO) have a conflict of interest in allowing Lehman Brothers (Goldman Sach's major competitor) to fail? (17:10- 2 21:42)
-
Z Inc. manufactures a product with a selling price of $60 per unit. Direct Materials costs $12 per unit. Direct Labor costs $11 per unit. Variable Manufacturing Overhead costs $6 per unit. Fixed...
-
Explain the irony in the name Camp Green Lake as used in Holes by Louis Sachar Give at least three examples.
-
A thin wire ring of radius a carrying a charge q approaches the observation point P so that its centre moves rectilinearly with a constant velocity v. The plane of the ring remains perpendicular to...
-
A statistical study shows that the fraction of television sets of a certain brand that are still in service after x years is given by f (x) = e-0.15x. (a) What fraction of the sets are still in...
-
Use the information for Jenny Corporation in E18-9, and assume that the company reports accounting income of $155,000 in each of 2012 and 2013 and the warranty expenditures occurred as expected. No...
-
Use the information for Jenny Corporation in E18-9, and assume that the company reports accounting income of $155,000 in each of 2012 and 2013, and that there is no reversing difference other than...
-
Sayaka Tar and Gravel Ltd. operates a road construction business. In its first year of operations, the company obtained a contract to construct a road for the municipality of Cochrane West, and it is...
-
Loser Corporation was established in 2022. Its annual taxable income before the net operating loss is as follows: 2022: $100,000 loss 2023: $100,000 income. How much taxable income will Loser Corp....
-
Cash Inventory Equipment Total Assets $12 25 128 $165 Accounts Payable Total Current Liabilities Long term debt Total Non Current Liabilities Total Liabilities $10 $10 $50 $50 $60 Common Stock...
-
Tulip Company presents the following data regarding one of its mixed costs: Month Units Produced Total Cost January 20,000 $30,000 February 40,000 48,000 March 30,000 42,000 April 50,000 63,000 May...
Study smarter with the SolutionInn App