Advent ia e publiely listed compeny. Deteila of Advent's non-current essets et 1 October 20X3 were:...
Fantastic news! We've Found the answer you've been seeking!
Question:
![](https://dsd5zvtm8ll6.cloudfront.net/si.experts.images/questions/2022/02/620ce1a9ae9e4_1645011368511.jpg)
![](https://dsd5zvtm8ll6.cloudfront.net/si.experts.images/questions/2022/02/620ce1c5c68ca_1645011397157.jpg)
Transcribed Image Text:
Advent ia e publiely listed compeny. Deteila of Advent's non-current essets et 1 October 20X3 were: Lend end Flent Telecommunicetiona Totel building licence Sm Sm Sm Sm Cost/valuetion 280 300 730 Accumuleted deprecietion/emortisetion (40) (105) (30) (175) Carying emount 240 45 270 555 The following information ia relevent: (0 The lend end building were revelued on 1 October 20XS with SB0 million ettributeble to the lend end $200 million to the building. At thet dete the estimeted remeining life of the building wes 25 yeers. A further reveluetion wes not needed until1 October 20X8 when the lend and building were velued e: $85 million end $180 million reapectively. The remaining estimated life of the building at this dete wes 20 yeara. (i) Plent ia deprecieted et 20% per annum on cost with time epportionment where eppropriete. On 1 April 20X9 new plant costing $45 million we: scouired. In eddition, this plent cost $5 million to install end commiasion. No plant ia more then four yeera old. Çii) The telecommunicetions licence wes bought from the government on 1 October 20X7 end hes e ten-yeer life. Its emortised on e streight line besis. In September 20X9, e review of the seles of the products releted to the licence ahowed them to be very diseppointing. Aa a result of this review the estimeted recovereble emount of the licence et 30 September 20X9 wes estimeted et only $100 million. There were no diaposela of non-current essets during the yeer to 30 September 20X9. QUESTION 14 What is the carrying amount of the land and buildings at 30 September 20x97 $256m $265m $240m C $271m QUESTION 15 What is the depreciation charge on the plant for the year ended 30 September 20X9? O $30m $25m $20m $35m QUESTION 16 Heving revelued ita property Advent ia required to make certain ciaclcaures in respect of the revaluation. Which one of the following is NOT one of these disclosures? Effective dete of reveluetion Professionel quelificetions of veluer Besis used to revelue esseta Cerrying emount of esseta if no reveluetion hed taken plece QUESTION 17 What is the amount of the impairment loss on the licence? $200m $170m $140m $60m QUESTION 18 Advent's licence is now carried st its recoverable amount. How is recoverable amount measured? Higher of feir velue less costs of diaposel end velue in use Lower of feir velue lesa coata of diaposal end velue in use Higher of cerrying emount end feir value leas costa of diapcael Lower of cerrying emount end feir velue lesa costa of disposel Advent ia e publiely listed compeny. Deteila of Advent's non-current essets et 1 October 20X3 were: Lend end Flent Telecommunicetiona Totel building licence Sm Sm Sm Sm Cost/valuetion 280 300 730 Accumuleted deprecietion/emortisetion (40) (105) (30) (175) Carying emount 240 45 270 555 The following information ia relevent: (0 The lend end building were revelued on 1 October 20XS with SB0 million ettributeble to the lend end $200 million to the building. At thet dete the estimeted remeining life of the building wes 25 yeers. A further reveluetion wes not needed until1 October 20X8 when the lend and building were velued e: $85 million end $180 million reapectively. The remaining estimated life of the building at this dete wes 20 yeara. (i) Plent ia deprecieted et 20% per annum on cost with time epportionment where eppropriete. On 1 April 20X9 new plant costing $45 million we: scouired. In eddition, this plent cost $5 million to install end commiasion. No plant ia more then four yeera old. Çii) The telecommunicetions licence wes bought from the government on 1 October 20X7 end hes e ten-yeer life. Its emortised on e streight line besis. In September 20X9, e review of the seles of the products releted to the licence ahowed them to be very diseppointing. Aa a result of this review the estimeted recovereble emount of the licence et 30 September 20X9 wes estimeted et only $100 million. There were no diaposela of non-current essets during the yeer to 30 September 20X9. QUESTION 14 What is the carrying amount of the land and buildings at 30 September 20x97 $256m $265m $240m C $271m QUESTION 15 What is the depreciation charge on the plant for the year ended 30 September 20X9? O $30m $25m $20m $35m QUESTION 16 Heving revelued ita property Advent ia required to make certain ciaclcaures in respect of the revaluation. Which one of the following is NOT one of these disclosures? Effective dete of reveluetion Professionel quelificetions of veluer Besis used to revelue esseta Cerrying emount of esseta if no reveluetion hed taken plece QUESTION 17 What is the amount of the impairment loss on the licence? $200m $170m $140m $60m QUESTION 18 Advent's licence is now carried st its recoverable amount. How is recoverable amount measured? Higher of feir velue less costs of diaposel end velue in use Lower of feir velue lesa coata of diaposal end velue in use Higher of cerrying emount end feir value leas costa of diapcael Lower of cerrying emount end feir velue lesa costa of disposel
Expert Answer:
Answer rating: 100% (QA)
QUESTION14 Option B is correct 265m Working Revaluated value of building 85 Revaluated value of land ... View the full answer
Related Book For
Managerial Accounting Tools for business decision making
ISBN: 978-1118096895
6th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
Students also viewed these accounting questions
-
This information relates to Prophet Co. 1. On April 5 purchased merchandise from Lombard Company for $25,000, terms 2/10, n/30. 2. On April 6 paid freight costs of $900 on merchandise purchased from...
-
This information relates to Emley Co. 1. On April 5 purchased merchandise from Hatcher Company for $25,000, terms 2/10, net/30. 2. On April 6 paid freight costs of $900 on merchandise purchased from...
-
At 1 April 20X3 S held 80 000 of the 100 000 issued ordinary shares of T. The acquisition of T took place on 1 April 20X2 and goodwill on acquisition was recorded at $120 000. The directors of Shave...
-
1. The following are selected accounts taken from the adjusted trial balances of the Purell Merchandise company on December 31, 2021: Inventory, January 1, 2021 Selling expenses Loss on sale of...
-
1. Unstructured decisions are typically one-time decisions, with no standard operating procedure pertaining to them. True or False? 2. A digital dashboard integrates information from multiple sources...
-
On January 1, 2012, Chang Corp. had 480,000 shares of common stock outstanding. During 2012, it had the following transactions that affected the Common Stock account. February 1 Issued 120,000 shares...
-
Assume the union had represented the employees for the last several years. What kind of financial - and employee - related information should Maureen and her foodservices management team have...
-
Official Reserve Rare Coins (ORRC) was formed on January 1, 2016. Additional data for the year follow: a. On January 1, 2016, ORRC issued no par common stock for $450,000. b. Early in January, ORRC...
-
The three options that Ford's Indian team has: 1. Outsource e-coating in Sanand to a third-party. 2. Outsource in Chennai and transport parts to Gujarat. 3. Build a stand-alone Facility to support...
-
Identify the following users as either External users or Internal users. a. Customers b. Suppliers c. External auditors d. Business press e. Managers f. District attorney g. Shareholders h. Lenders...
-
Step 5: Suppose, instead of transferring, the government decides to use vouchers that can be used for fruits and vegetables. What is the value of the voucher needed by the government to reach the...
-
The following information was obtained from the records of Shae Inc.: Merchandise inventory $ 88,000 Notes payable (long-term) 100,000 Net sales 300,000 Buildings and equipment 168,000 Selling,...
-
Absent Clothing Company Savita Kapur, CEO, founded Absent Clothing Company (ACC) in 2005. ACC sells practical athletic wear to service the yoga and pilates market. Savita originally created ACC with...
-
Find the indicated area under the curve of the standard normal distribution; then convert it to a percentage and fill in the blank. About % of the area is between z = - 3.5 and z = 3.5 (or...
-
EM 605 Spring 2021 Midterm Exam 3/17/2021 The linear programming problem whose output follows is used to determine how many bottles of Hell-bound red nail polish (x1), Blood red nail polish (x2),...
-
Following is a partially completed balance sheet for Epsico Incorporated at December 31, 2022, together with comparative data for the year ended December 31, 2021. From the statement of cash flows...
-
Required information [The following information applies to the questions displayed below.) Clopack Company manufactures one product that goes through one processing department called Mixing. All raw...
-
Aztec Furnishings makes hand-crafted furniture for sale in its retail stores. The furniture maker has recently installed a new assembly process, including a new sander and polisher. With this new...
-
In Pargo Companys flexible budget graph, the fixed cost line and the total budgeted cost line intersect the vertical axis at $90,000. The total budgeted cost line is $330,000 at an activity level of...
-
Rondeli Company manufactures bicycles and tricycles. For both products, materials are added at the beginning of the production process, and conversion costs are incurred uniformly. Rondeli Company...
-
Arquitectos Interiores of Juarez, Mexico, is contemplating a major change in its cost structure. Currently, all of its drafting work is performed by skilled draftsmen. Alfonso Jiminez, Arquitectos...
-
5. The depreciation on the machines used to make the tables totals $10,000 per year. The machines have no resale value and do not wear out through use.
-
LO14 Understand cost classifications used to predict cost behavior: variable costs, fixed costs, and mixed costs.
-
E AWATING DEBT BURDEN. Carter Barnes has monthly take-home pay of $1,685; he makes payments of $410 a month on his outstanding consumer credit (excluding the mortgage on his home). How would you...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App