During the current period, Polisi Ltd sold a retail property for $33 million. The property was...

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During the current period, Polisi Ltd sold a retail property for $33 million. The property was acquired for $28 million 15 years ago and at the time of the sale it had a carrying amount of $16 million. State, in dollar millions, the gain or loss on the sale of the property. Designate any loss calculated by preceding your figure with a negative sign. Kataskevi Constructions Limited (KC Ltd) recognises revenue by applying the percentage of completion method. A current project expected to take 6 years to complete commenced in 2019. The contract price is $95 million and KC Ltd expects the total cost of the project will be $38 million. Calculate, to the nearest whole dollar, the revenue KC Ltd would recognise for the year ended 30 June 2021 if the costs incurred in the period were $11 million. On 28 February 2021, Esoda Ltd invested $650,000 in a 2-year fixed term deposit earning 3% p.a. Interest is paid quarterly and Esoda Ltd received the interest it was due on 31 May 2021. Calculate, to the nearest whole dollar, the amount of accrued revenue Esoda Ltd would recognise at 30 June 2021. During the current period, Polisi Ltd sold a retail property for $33 million. The property was acquired for $28 million 15 years ago and at the time of the sale it had a carrying amount of $16 million. State, in dollar millions, the gain or loss on the sale of the property. Designate any loss calculated by preceding your figure with a negative sign. Kataskevi Constructions Limited (KC Ltd) recognises revenue by applying the percentage of completion method. A current project expected to take 6 years to complete commenced in 2019. The contract price is $95 million and KC Ltd expects the total cost of the project will be $38 million. Calculate, to the nearest whole dollar, the revenue KC Ltd would recognise for the year ended 30 June 2021 if the costs incurred in the period were $11 million. On 28 February 2021, Esoda Ltd invested $650,000 in a 2-year fixed term deposit earning 3% p.a. Interest is paid quarterly and Esoda Ltd received the interest it was due on 31 May 2021. Calculate, to the nearest whole dollar, the amount of accrued revenue Esoda Ltd would recognise at 30 June 2021.

Answer rating: 100% (QA)

Calculation of gain on sale of property Sale value of the property 33 ... View the full answer