Assignment Detail


How much income is to be reported by bryant

    Assignment Instructions

    Assignment ID: FG133136075

    Question – Bryant leased a land to Joe for a period of years starting January 1, 2016 at a monthly rental of P2,000. Observing the provisions of the contract, Joe constructed a building which shall become the property of Bryant at the expiration of the lease. The construction was completed on December 30, 2016 at a cost of P1,000,000 with an estimated life of 20 years.

    How much income is to be reported by Bryant in 2016 under outright method.

    How much income is to be reported by Bryant in 2017 under spread out method.

    Supposed on February 1, 2020 the building was destroyed by fire, how much loss did Bryant incur?

    Need fresh solution to this Assignment without plagiarism?? Get Quote Now

    Expert Answer

    Asked by: Anonymous
    Plagiarism Checked
    Answer Rating:

    Plagiarism free Answer files are strictly restricted for download to the student who originally posted this question.

    Related Assignments

    Our customer support team is here to answer your questions. You can send Assignments directly to support team.
    👋 Hi, how can I help?